Fiduciary is a type of legal relations that entitles one party to represent and take actions on behalf of another party/parties. In return, this party is obliged to represent these interests in a fair way and in accordance with the will of the represented, as well as to disclose and relevant information and perform due diligence. In property deal, for example, a hired real estate agent is in fiduciary relations with its client, as it represents his/her interests in selling or buying real estate.