Under the Alaska Seller Disclosure Act (AS 34.70), which type of property triggers the mandatory written seller disclosure requirement?
Correct Answer
B) Residential real property consisting of one to four units
AS 34.70 specifically requires sellers of residential real property consisting of one to four units to provide a written disclosure statement to buyers. This scope is explicitly defined in the statute and limits the mandatory disclosure obligation to smaller residential properties.
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- → In Vermont, covered pre-1978 property is shown to a buyer. Which statement is correct?
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- → An Oklahoma licensee is asked about a seller learns of a new defect after already delivering a disclosure or disclaimer statement. What is the best answer?
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Agent must disclose all EXCEPT:
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Margaret is selling her single-family home in Fairbanks. During the listing appointment, her agent notices that part of the backyard shows signs of ground subsidence. Margaret mentions she has never had a structural engineer evaluate the area but suspects permafrost may be affecting the soil. Under AS 34.70, what must Margaret include in her seller disclosure statement?