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OCTOBER 2009Legal Update A ERA Publication Exclusively for the Designated REALTORInside This Issue8Licensee's Duty to Disclose10Material Adverse Facts16 “As Is Sales19Legal Hotline Questions & Answers24Conclusion25Licensee
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Licensees duty is to comply with regulations and guidelines set forth by the licensing authority.
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All licensees are required to file licensees duty.
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Licensees duty can be filled out online through the licensing authority's website or submitted via mail.
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The purpose of licensees duty is to ensure licensees are meeting their obligations and responsibilities as outlined in their license.
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Information such as financial statements, compliance reports, and any other relevant documentation may need to be reported on licensees duty.
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