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?
Correct Answer
D) A disclosure of the known or suspected permafrost condition affecting the property
AS 34.70 requires sellers to disclose known material defects and conditions, including permafrost conditions on or affecting the property. Alaska's seller disclosure law specifically includes permafrost as a required disclosure item because of its potential to cause structural instability and foundation problems. Margaret's suspicion of permafrost based on visible ground subsidence constitutes knowledge of a condition that must be disclosed, even without a formal engineering report.
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Previous Question
Under the Alaska Seller Disclosure Act (AS 34.70), which type of property triggers the mandatory written seller disclosure requirement?
Next Question
James is purchasing a remote cabin near Talkeetna that is accessible only by small aircraft. The listing agent, Sandra, knows the property has no road access, no connection to the electrical grid, and that conventional mortgage lenders have declined to finance similar properties in the area. Sandra has not mentioned any of these facts to James, who is relocating from Ohio and is unfamiliar with Alaska's remote property market. Which of the following best describes Sandra's disclosure obligations under Alaska law?