The agent, under common law, is required
to place the interests of the principal
above all else except the law. Disclosure
forms part of that duty. For example, where
the agent has any personal interest, direct
or indirect, in a transaction, the agent has
a strict duty to make full disclosure to the
principal. Further, all pertinent facts that
could affect the principal’s judgment when
considering an offer must be disclosed.
Ethical Duty
Individuals who are members of organized
real estate must adhere to the Code of
Ethics and Standards of Business Practice of
The Canadian Real Estate Association (CREA).
Statutory Requirements
Provincial regulatory requirements
typically address selected disclosure
procedures for persons registered under the
applicable real estate act, e.g., when
buying and/or selling property and
disclosures relating to agency
relationships.
Court Disclosure
Disclosure" describes the process by
which each party identifies (to the other
party and the court) the documents and other
hard evidence (e.g. videos, photographs,
computer data) which need to be disclosed
for the purpose of the court action.
The documents etc. which have to be
disclosed are those which are or were in the
control of the party. It is not necessary to
give the other party copies of "privileged"
documents. The most obvious example of a
privileged document is a letter to or from
us as your solicitors, dealing with the case
and its progress. However the existence of
such documents does have to be disclosed, at
least by means of a general description.
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