AK heating oil tank disclosure:
Correct Answer
B) Sellers must disclose oil tank location, age, condition, and any history of leaks
Many Alaska homes use heating oil. Underground or above-ground oil tank condition, age, and leak history are material facts. Tank leaks can cause expensive soil contamination remediation.
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A buyer asks a Georgia licensee to interpret a FEMA flood zone map and determine whether the property is at risk of flooding. The licensee has no specialized training in flood mapping or hydrology. How should the licensee handle this request?
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- → A Georgia licensee learns that a property has a known foundation crack that could affect structural integrity. The seller insists this is not a big deal and points out that a previous occupant died on the property, suggesting the licensee should focus on disclosing that instead. Under Georgia law, which statement correctly describes the licensee's disclosure obligations?
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- → At a brokerage training session in Augusta, Avery is given a Georgia scenario. Example 12 is under review. The office is debating the claim that consumers should rely solely on the licensee for mold, engineering, or survey conclusions because referrals show weakness. It is comparing that claim with the rule that known material facts are not erased simply because the issue also appears in public records. The review topic is flood maps, changing conditions, historical seller knowledge, and the limits on a licensee’s interpretation of technical data. Which statement is correct?
- → Buyer's agent Mark discovers through public records that the property his clients want to purchase has an active code violation for an unpermitted addition. The listing doesn't mention this violation. What should Mark do under Georgia disclosure and representation requirements?
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- → A buyer's agent is aware that a property sits in a FEMA-designated flood zone based on publicly available flood maps. The seller's disclosure form does not mention flooding. When the buyer asks the agent about potential flood risk, which approach best reflects the licensee's duty under Georgia law?
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Previous Question
Elena is selling a duplex in Anchorage that sits on land she purchased from an Alaska Native village corporation. The surface rights were conveyed to Elena at purchase, but the subsurface rights were retained by the corporation under ANCSA. Elena's listing agent, David, is preparing the seller disclosure statement under AS 34.70 and is also advising Elena on what additional information buyers must receive. A prospective buyer, Tom, asks David whether the property comes with full ownership of the land. Which of the following responses by David most accurately reflects Alaska law and proper disclosure practice?
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AK permafrost disclosure: