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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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?
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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?