Final answer:
A license holder is not usually liable for a misrepresentation or concealment made by a party in a real estate transaction, unless they had knowledge of it, actively participated in it, or failed to fulfill their duty to discover it.
Step-by-step explanation:
In a real estate transaction, a license holder refers to a real estate agent or broker. In general, the license holder is not responsible for a misrepresentation or concealment of a material fact made by one of the parties involved in the transaction.
A license holder is not usually liable for a misrepresentation or concealment made by a party in a real estate transaction, unless they had knowledge of it, actively participated in it, or failed to fulfill their duty to discover it. However, there are certain circumstances where the license holder can be held liable
Therefore, it is important for license holders to act ethically and diligently in order to avoid potential liability in real estate transactions.