Ontario Barrister and Solicitor Practice Exam

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What must a real estate lawyer do when learning of an addendum to the purchase price?

Inform only the purchaser
Provide a copy of the changes to all parties
Withdraw immediately
Keep the information confidential

The correct answer is: Provide a copy of the changes to all parties

A real estate lawyer is responsible for facilitating the transfer of property ownership between parties. When an addendum to the purchase price is discovered, it is essential for the lawyer to inform all involved parties of the change. Option A is incorrect because the lawyer has a duty to ensure all parties are aware of important changes. Option B is incorrect because simply withdrawing from the transaction is not enough in this case, as it does not address the necessary communication with all parties involved. Option D is incorrect because confidentiality is not involved when notifying parties of changes to the purchase price.