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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 ...
If the seller has attempted to repair the defective product and failed, the action must be instituted within one year of the date of the last attempt to correct the defect. If the seller knew of the defect at the time of sale but sold the product anyway, the action is available for one year from the date the buyer discovered the defect.
The modern trend in the U.S. is that the implied warranty of fitness for a particular purpose applies in the real-estate context to only the sale of new residential housing by a builder-seller and that the caveat emptor rule applies to all other real-estate sale situations (e.g. homeowner to buyer). [3]
Health. Home & Garden
Records show Harlan Crow purchased three parcels of land, including the plot where Thomas’ mother still lives, for a combined $133,363 in 2014
In construction contracting, a latent defect is defined as a defect which exists at the time of acceptance but cannot be discovered by a reasonable inspection. [2]In the 1864 US case of Dermott v Jones, the latent defect lay in the soil on which a property had been built, giving rise to problems which subsequently made the house "uninhabitable and dangerous".
Tip No. 1: We love "CSI" -- on TV.But we don't want to actually live at a crime scene. And if a crime did happen in your home, this is a really bad way to make light of it. The "Caution: Do Not ...
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.