Final answer:
The licensee is responsible for delivering the property disclosure in a real estate transaction. This document provides information about the physical condition of the property being sold. Delivering the property disclosure promotes transparency and allows the buyer to make an informed decision.
Step-by-step explanation:
In real estate transactions, the licensee is responsible for the delivery of the property disclosure.
The property disclosure is a document that provides information about the physical condition of the property being sold.
The licensee must ensure that the buyer receives this disclosure before they make a purchase decision.
For example, let's say you are a real estate agent representing the seller of a house. It is your responsibility to obtain the property disclosure form from the seller and deliver it to potential buyers.
This disclosure form will include information about any known issues or defects with the property, such as leaks, structural damage, or environmental hazards.
By delivering the property disclosure, the licensee helps ensure transparency in the real estate transaction and allows the buyer to make an informed decision.