Fiduciary

Definition: A fiduciary holds a position of trust and owes duties to act for another's benefit within that relationship.

Example

A Florida single agent protects the seller's confidential negotiating position and follows lawful instructions.

Keep the distinction clear

A Florida transaction broker provides limited representation and is not a fiduciary. Honesty and accounting duties can exist even where fiduciary representation does not.

Related terms

Single Agent · Transaction Broker · No Brokerage Relationship

Keep studying

Buyer Agreements and Florida Agency: What Changed?

References: Florida Statutes 475.01: brokerage definitions · Florida Statutes 475.278: brokerage relationships and duties

Pronunciation (US): fih-DOO-shee-air-ee (capitals show stress)

Pronunciation reference: Merriam-Webster