Which term best describes a situation where you knew information but did not disclose it?

The correct answer is "Willful Omission," which refers to a deliberate choice not to disclose information that one is aware of. In a real estate context, this could involve failing to share critical details about a property or transaction that could influence a buyer's decision. The term emphasizes intent; it indicates that the individual consciously chose to withhold information rather than unintentionally overlooking it.

In contrast, negligent misrepresentation or negligent omission would imply a lack of due care in providing accurate information, typically without intent to deceive. Similar terms such as willful misrepresentation involve actively providing false information rather than simply omitting facts. Understanding the distinction is essential in real estate practice, as failing to disclose relevant information can lead to legal consequences, including potential liability for damages caused by the omission.