Under California Civil Code §1102.6, which of the following categories of information is a seller required to address when completing the Transfer Disclosure Statement (TDS) for a residential property?
Correct Answer
A) Known material defects and the condition of the property's major systems, such as roof, plumbing, electrical, and heating
California Civil Code §1102.6 prescribes the content of the Transfer Disclosure Statement and requires sellers to disclose known material defects and the condition of the property's major systems and components, including the roof, plumbing, electrical systems, heating and cooling, water heater, and other structural and mechanical elements. The TDS is designed to give buyers a complete picture of the property's physical condition based on the seller's knowledge.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
A property condition disclosure is a written statement by the seller detailing the known condition of the property, including defects, repairs, and issues with major systems. Most states require sellers to complete this form.
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At a DRE administrative disciplinary hearing in California, what standard of proof must the Department meet to sustain a finding against a licensee?
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Previous Question
Lisa is selling a townhome in California. Her property is part of a homeowners association (HOA). In addition to the TDS, what additional disclosures must Lisa provide to the buyer regarding the HOA?
Next Question
A buyer in California receives the TDS from the seller of a home in Sacramento. The TDS was hand-delivered to the buyer on Wednesday. The buyer reviews it and wants to rescind. Under California Civil Code §1102.3, what is the last day the buyer can exercise the rescission right?