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In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1]
The valuation of property for estimating just compensation due for a partial taking of property for purposes of constructing a public improvement may involve the use of several extraordinary assumptions or hypothetical conditions in both the before and after condition in order to formulate estimates of overall just compensation due or damages ...
A regulated developer is to provide each purchaser with a disclosure document called a Property Report. The Property Report contains relevant information about the subdivision and must be delivered to each purchaser before the signing of the contract or agreement and gives the purchaser at a minimum a 7-day period to cancel the purchase agreement.
A temporary certificate of occupancy grants residents and building owners all of the same rights as a certificate of occupancy, however it is only for a temporary period of time. In New York City, TCOs are usually active for 90 days from the date of issue, after which they expire. [ 2 ]
There is also an unwritten form of easement referred to as an implied easement or easement by implication, arising from the original subdivision of the land for continuous and obvious use of the adjacent parcel (e.g., for access to a road, or to a source of water) such as the right of lot owners in a subdivision to use the roadway on the ...
The Natural Hazards Disclosure Act, under Sec. 1103 of the California Civil Code, [1] states that real estate seller and brokers are legally required to disclose if the property being sold lies within one or more state or locally mapped hazard areas. The law specifies that the six (6) required hazards be disclosed on a statutory form called the ...
The reference to 'HUD' in the form's name refers to the Department of Housing and Urban Development. Federal regulations require that unless its use is specifically exempted, either the HUD-1 or the HUD-1A, as appropriate, must be used for all mortgage transactions that are subject to the Real Estate Settlement Procedures Act. Prior to October ...
A development easement is a legal agreement by which a landowner surrenders the right to develop a designated parcel of property. Some local and state governments have programs to acquire development easements from private landowners to prevent conversion of farmland to other uses.