What does Willful Omission mean?

Willful Omission refers to the scenario where a person is aware of pertinent information but intentionally chooses not to disclose it. This concept highlights a deliberate act of withholding information that, if shared, could significantly impact the decision-making process of others, particularly in contexts like real estate transactions, where full transparency is essential to ensure informed decisions by all parties involved.

For instance, real estate agents are obligated to disclose any known defects or material facts about a property. If an agent is aware of a water leak issue but decides not to inform potential buyers, this would constitute willful omission. The key factor here is the knowledge of the information combined with the conscious choice not to share it, illustrating a breach of duty or trust.

Understanding this term is vital for real estate professionals, as being found guilty of willful omission can lead to legal consequences, loss of license, and damage to professional reputation. Hence, it’s critical to cultivate a practice of full disclosure to maintain integrity and transparency in real estate dealings.