A real estate licensee representing an owner of residential real property as the listing broker has a duty to inform each such owner represented by that licensee of the owner's rights and obligations under this part. A real estate licensee representing a purchaser of residential real property or, if the purchaser is not represented by a licensee, the real estate licensee representing an owner of residential real estate and dealing with the purchaser has a duty to inform each such purchaser of the purchaser's rights and obligations under this part. If a real estate licensee performs those duties, the licensee shall have no further duties to the parties to a residential real estate transaction under this part, and shall not be liable to any party to a residential real estate transaction for a violation of this part or for any failure to disclose any information regarding any real property subject to this part. However, a cause of action for damages or equitable remedies may be brought against a real estate licensee for intentionally misrepresenting or defrauding a purchaser. A real estate licensee will further be subject to a cause of action for damages or equitable relief for failing to disclose adverse facts of which the licensee has actual knowledge or notice. "Adverse facts" means conditions or occurrences generally recognized by competent licensees that significantly reduce the structural integrity of improvements to real property, or present a significant health risk to occupants of the property.
Acts 1994, ch. 828, § 6.
Notes of Decisions
Cited in
9
cases, 2000–2020 · leading case:
Odom v. Oliver, 310 S.W.3d 344 (Tenn. Ct. App. 2009).
Odom v. Oliver, 310 S.W.3d 344 (Tenn. Ct. App. 2009).
· cites it 6× “Tenn.Code Ann. § 66-5-206 (2004). Tennessee Code Annotated § 66-5-206 states that [i]f a real estate licensee performs [the duty to inform parties of rights and obligations], the licensee shall have no further duties to the parties to a residential real estate transaction under…”
Goodale v. Langenberg, 243 S.W.3d 575 (Tenn. Ct. App. 2007).
““Adverse facts” means conditions or occurrences generally recognized by competent licensees that significantly reduce the structural integrity of improvements to real property, or present a significant health risk to occupants of the property.”
Harold Oliver v. Todd Pulse (Tenn. Ct. App. 2020).
· cites it 15× ““Adverse facts” means conditions or occurrences generally recognized by competent licensees that significantly reduce the structural integrity of improvements to real property, or present a significant health risk to occupants of the property.”
Raymond Konop v. James Henry (Tenn. Ct. App. 2010).
· cites it 11× “As more fully explained, infra, the interpretation and application of section 62-13-403 is consistent with the interpretation and application of Tenn. Code Ann. § 66-5-206 , cited on appeal by the purchasers.”
James R. Haynes, III v. Leslie E. Lunsford (Tenn. Ct. App. 2017).
· cites it 4× “Tenn. Code Ann. § 66-5-206 . Another section of the Act reiterates that the representations made in the disclosure statement are not that of the real estate licensee, stating, “A real estate licensee may not be the subject of any action and no action may be instituted against a…”
Ursula Daniels v. George Basch (Tenn. Ct. App. 2005).
· cites it 6× “Tenn.Code Ann. § 66-5-206. Therefore, as long as Basch and Re/Max Elite did not intentionally misrepresent or defraud Daniels or fail to disclose any adverse facts of which Defendants had actual knowledge, then they effectively disclaimed any representation in the Tennessee…”
Joseph Patton v. Michael Kruszewski (Tenn. Ct. App. 2000).
· cites it 3× “As to requirements of a real estate agent, T.C.A. § 66-5-206 (Supp. 1999) reads: Duties of real estate licensees.”
— Tenn. Code Ann. § 66-5-206(2004) — 1 case
Goodale v. Langenberg, 243 S.W.3d 575 (Tenn. Ct. App. 2007).
““Adverse facts” means conditions or occurrences generally recognized by competent licensees that significantly reduce the structural integrity of improvements to real property, or present a significant health risk to occupants of the property.”
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