Indiana Code 25-34.1-10-16. Liability for misrepresentation
Current as of: 2023 | Check for updates
|
Other versions
Sec. 16. (a) A client is not liable for any misrepresentation made by a licensee in connection with the agency relationship, unless the client knew or should have known of the misrepresentation.
(b) A licensee is not liable for any misrepresentation made by another licensee, unless the licensee knew or should have known of the other licensee’s misrepresentation.
As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.21.
Terms Used In Indiana Code 25-34.1-10-16
- agency relationship: means a relationship in which a licensee represents a client in a real estate transaction. See Indiana Code 25-34.1-10-0.5
- client: means a person who has entered into an agency relationship with a licensee. See Indiana Code 25-34.1-10-5
- licensee: means an individual or entity issued a broker's real estate license by the Indiana real estate commission. See Indiana Code 25-34.1-10-6.8