New Hampshire Revised Statutes 331-A:25-d – Disclosed Dual Agent; Duties
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I. A licensee may act as a disclosed dual agent only with the written consent of all parties to the anticipated transaction at the time in which a dual agency relationship occurs, but no later than the preparation of a written offer for sale or lease.
II. The duties of a licensee acting as a disclosed dual agent include:
(a) Performing the terms of the written disclosed dual agency agreement made with the parties.
(b) Presenting in a timely manner all offers or agreements to and from the parties on real estate of interest.
(c) Accounting in a timely manner, during and upon termination, expiration, completion, or performance of the brokerage agreement for all money and property received in which the parties have or may have an interest.
(d) Informing the parties of the laws and rules regarding real estate condition disclosures.
(e) Preserving confidential information received from the parties that is acquired during the written disclosed dual agency relationship, or from any prior brokerage agreement. This obligation continues beyond the termination, expiration, completion, or performance of the fiduciary relationship. Confidentiality shall be maintained unless:
(1) The party to whom the information pertains grants written consent to disclose the information;
(2) The information is made public from a source other than the licensee;
(3) Disclosure is necessary to defend the licensee against an accusation of wrongful conduct in a judicial proceeding before a court of competent jurisdiction, the commission, or before a professional committee; or
(4) If otherwise required by law.
II. The duties of a licensee acting as a disclosed dual agent include:
Terms Used In New Hampshire Revised Statutes 331-A:25-d
- Fiduciary: A trustee, executor, or administrator.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
(a) Performing the terms of the written disclosed dual agency agreement made with the parties.
(b) Presenting in a timely manner all offers or agreements to and from the parties on real estate of interest.
(c) Accounting in a timely manner, during and upon termination, expiration, completion, or performance of the brokerage agreement for all money and property received in which the parties have or may have an interest.
(d) Informing the parties of the laws and rules regarding real estate condition disclosures.
(e) Preserving confidential information received from the parties that is acquired during the written disclosed dual agency relationship, or from any prior brokerage agreement. This obligation continues beyond the termination, expiration, completion, or performance of the fiduciary relationship. Confidentiality shall be maintained unless:
(1) The party to whom the information pertains grants written consent to disclose the information;
(2) The information is made public from a source other than the licensee;
(3) Disclosure is necessary to defend the licensee against an accusation of wrongful conduct in a judicial proceeding before a court of competent jurisdiction, the commission, or before a professional committee; or
(4) If otherwise required by law.