In California, the Transfer Disclosure Statement (TDS) is required by which statute?
Correct Answer
D) California Civil Code §1102
The Transfer Disclosure Statement is governed by California Civil Code §1102 through §1102.17. This statute establishes the requirement for sellers of 1-4 unit residential property to provide a written disclosure of the property's condition.
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Previous Question
Victor, a licensed broker in California, represents a seller in the sale of a triplex. Six months after closing, the buyer discovers extensive termite damage concealed behind drywall. The buyer sues Victor, who claims the damage was hidden during his inspection. Which defense is MOST likely to protect Victor?
Next Question
A property owner transfers their residence into a revocable family trust for estate planning purposes, with the transferors named as beneficiaries. Which of the following correctly describes the TDS requirement for this transfer under California law?