October 2008
Buyer's Brokers and the Duty of LoyaltyBy Stewart E. Sterk
What obligations does a buyer’s broker have to different clients interested in purchasing the same property? When faced with that question in Rivkin v. Century 21 Teran Realty LLC, the Second Circuit certified the question to the New York Court of Appeals. Rivkin answered at least one significant question surrounding the obligations of a buyer’s broker, but the Court of Appeals opinion raised new questions whose resolution will await future litigation (or legislation).
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