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The Superior Court opinion provides guidance for any real estate transaction in the future and puts to rest the uncertainty of whether a seller has a duty to disclose a murder-suicide or any other ...
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 ...
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
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".
Remember seller’s disclosures Selling as-is doesn’t excuse you from disclosing known defects. For example, if you know there’s a mold problem or a crack in the foundation , you’re legally ...
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] Deliberate misrepresentation in the statement can result in liability. [2] Seller disclosure statements are not compulsory in New ...
Many jurisdictions recognize several forms of stigmatized property, and have passed resolutions or statutes to deal with them. One issue that separates them is disclosure. Depending on the jurisdiction of the house, the seller may not be required to disclose the full facts. Some specific types must always be disclosed, others are up to the ...
Even if the seller did not know of the defect at the time of sale, the buyer may sue for return of the purchase price and certain other expenses incurred as a result of the sale. The buyer may seek the same awards from the manufacturer as from the seller because, legally the manufacturer is presumed to know of the existence of defects in his ...