Tom is selling his rental property to his tenant who has been renting for 2 years. The tenant is familiar with the property condition. When must Tom deliver the SPDS?
Correct Answer
B) Before the tenant signs the purchase agreement
The SPDS must be delivered before the buyer signs the purchase agreement, regardless of the buyer's familiarity with the property. Tenant knowledge of the property does not create an exemption from SPDS requirements. Option A is incorrect because tenant familiarity doesn't exempt the transaction. Option C is incorrect because the timing is wrong - delivery must occur before contract signing. Option D is incorrect because delivery at closing is too late and tenant status doesn't change delivery requirements.
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