Which statement best represents the six fiduciary duties commonly summarized as OLDCAR in NY real estate practice?

• A. Integrity, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care
• B. OLDCAR: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care
• C. Honesty, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care
• D. Fiduciary duties include obedience, loyalty, disclosure, confidentiality, accounting, and due diligence

Answer: (B)

OLDCAR represents the six fiduciary duties owed to a client in NY real estate practice: Obedience to lawful instructions, Loyalty to the client, Disclosure of material facts, Confidentiality of client information, Accounting for funds and property, and Reasonable care (competence) in handling the transaction. This exact set is what the acronym OLDCAR stands for, so the statement that lists Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care matches the established terminology used in NY practice. Other options swap or replace one of these terms (for example using Integrity or Honesty instead of Obedience, or replacing Reasonable care with due diligence), which diverges from the standardOLDCAR framework.