(a) No real estate licensee shall: (1) Reveal confidential information concerning a person whom the real estate licensee represented either as an agent, designated buyer agent or a designated seller agent; (2) use confidential information concerning that person to the person’s disadvantage; or (3) use confidential information concerning that person for the real estate broker‘s or real estate salesperson‘s advantage or the advantage of a third party, except as required by legal process, as necessary to defend the real estate broker or real estate salesperson from allegations of wrongful or negligent conduct, or as necessary to prevent the commission of a crime.

Terms Used In Connecticut General Statutes 20-325h

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • broker: means (A) any person, partnership, association, limited liability company or corporation which acts for another person or entity and for a fee, commission or other valuable consideration, lists for sale, sells, exchanges, buys or rents, or offers or attempts to negotiate a sale, exchange, purchase or rental of, an estate or interest in real estate, or a resale of a mobile manufactured home, as defined in subdivision (1) of §. See Connecticut General Statutes 20-311
  • Commission: means the Connecticut Real Estate Commission appointed under the provisions of §. See Connecticut General Statutes 20-311
  • Designated buyer agent: means a broker or salesperson designated by the real estate broker with whom the broker or salesperson is affiliated or employed to solely represent a named buyer or tenant client of the real estate broker during the term of a buyer representation agreement or authorization. See Connecticut General Statutes 20-311
  • Designated seller agent: means a broker or salesperson designated by the real estate broker with whom the broker or salesperson is affiliated or employed to solely represent a named seller or landlord client of the real estate broker during the term of a listing agreement or authorization. See Connecticut General Statutes 20-311
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Person: means any individual, partnership, association, limited liability company or corporation. See Connecticut General Statutes 20-311
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • salesperson: means a person affiliated with any real estate broker as an independent contractor or employed by a real estate broker to list for sale, sell or offer for sale, to buy or offer to buy or to negotiate the purchase or sale or exchange of real estate, or to offer for resale, a mobile manufactured home, as defined in subdivision (1) of §. See Connecticut General Statutes 20-311

(b) As used in this section, “confidential information” means facts concerning a person’s assets, liabilities, income, expenses, motivations to purchase, rent or sell real property and previous offers received or made to purchase or lease real property which are not authorized by the client, a matter of general knowledge, part of a public record or file to which access is authorized pursuant to § 1-210 or otherwise subject to disclosure under any other provision of the general statutes or any regulation of Connecticut state agencies.