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Answer :
Final answer:
A listing broker in real estate who intentionally fails to disclose material facts about a property to a buyer may be held liable for fraud. This legal obligation is important because material facts, such as structural issues or legal matters, can influence a buyer's decision. Non-disclosure may lead to penalties like fines, lawsuits, or license revocation.
Explanation:
If a material fact concerning the condition of a residential property is known by the listing broker but intentionally not disclosed to the buyer, the broker may be held liable for fraud. In real estate law, a broker is obliged to disclose any material facts they are aware of, regarding the property they are selling. A failure to do so may result in legal consequences such as charges of fraud or misrepresentation, which can lead to penalties such as fines, lawsuits, or even license revocation. A 'material fact' in this context refers to any information that could potentially influence the decision of a buyer to proceed with the transaction or not. Examples of material facts would be knowledge of structural issues with the property, legal matters tied to the property, or public plans that could affect the property's value.
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