The Following is a Property Condition Disclosure Required by Sections 89 1 507 through 89 1 527 of the Mississippi Real Estate B Form
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People also ask
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Which type of residential real property transfer would require a property condition disclosure statement quizlet?
The seller of a 1-4 unit residential property must complete and give a Transfer Disclosure Statement to a prospective buyer. A seller can sell a home "as is" but must still disclose any defects. -
What's a property condition disclosure statement quizlet?
A Residential Real Property Disclosure Act must disclose to the buyer any: - Material defects, which are known hazards or problems with the structure or the heating, plumbing, mechanical, or electrical systems. -
What is a disclosure form concerning the property should be completed by the seller?
A Seller's Disclosure is a legal document that requires sellers to provide previously undisclosed details about the property's condition that prospective buyers may find unfavorable. This document is also known as a property disclosure, and it's important for both those buying a house and for those selling a house. -
What is property condition disclosure statement NY?
This is a statement of certain conditions and information concerning the property known to the seller. This Disclosure Statement is not a warranty of any kind by the seller or by any agent representing the seller in this transaction. -
What best describes a property disclosure?
A Seller's Disclosure is a legal document that requires sellers to provide previously undisclosed details about the property's condition that prospective buyers may find unfavorable. This document is also known as a property disclosure, and it's important for both those buying a house and for those selling a house. -
What is a disclosure statement quizlet?
Terms in this set (10) what is seller disclosure. statements are a detailed disclosure of property defects on a form often produced by a real estate trade Association. -
Is a property disclosure statement required in Mississippi?
Real Estate Disclosure Law in Mississippi That statute says that the seller of any residential property must deliver to prospective buyers a written disclosure statement as soon as practicable before transfer of title. -
What is miss code ann 89 1 527?
89-1-527 - Failure to disclose nonmaterial fact regarding property as site of death or felony crime, as site of act or occurrence having no effect on physical condition of property, or as being owned or occupied by persons affected or exposed to certain diseases; failure to disclose information provided or maintained ... -
Is Mississippi a full disclosure state?
To add further confusion, some non-disclosure states may have counties that are full disclosure. The current list of non-disclosure states includes Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah, and Wyoming. -
Who must deliver a property condition disclosure statement quizlet?
The answer is the seller. Most states require the seller to complete a property condition disclosure. The listing broker should review the disclosure form and question the seller about any items that are incomplete.
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