Which term refers to the laws that govern personal representation in property transactions?

The term that refers to the laws governing personal representation in property transactions is the Law of Agency. This legal concept establishes the relationship between a principal (such as a property owner) and an agent (such as a real estate broker) who acts on behalf of the principal. In property transactions, the Law of Agency dictates how agents must perform their duties, including the obligation to act in the best interest of their clients, disclose material information, and maintain confidentiality.

Understanding the Law of Agency is crucial for those involved in property transactions, as it outlines the rights and responsibilities of all parties in the relationship. It ensures that agents represent their clients effectively and can also impact the validity of transactions depending on the adherence to these laws.

While other terms like Property Rights Law refer to the rights individuals have in their properties, Real Estate Law encompasses a broader range of regulations governing real property, including zoning and transactions, and Transaction Law pertains specifically to the processes involved in conducting a transaction. However, none of these accurately focus on the aspect of personal representation in property transactions the way the Law of Agency does.