Definition
A legal obligation to act in another party's best interest, owed by agents to their clients.
Example
The listing agent's fiduciary duty required presenting every offer received.
Related terms
- Abstract of Title
- Adverse Possession
- Affidavit of Title
- Certificate of Occupancy
- Chain of Title
- Cloud on Title
Frequently asked questions
What does Fiduciary Duty mean in real estate?
A legal obligation to act in another party's best interest, owed by agents to their clients.
How is Fiduciary Duty used in practice?
The listing agent's fiduciary duty required presenting every offer received.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.