Under California law, several parties have responsibilities regarding the Transfer Disclosure Statement. All of the following parties have a duty to complete a section of the TDS EXCEPT:
Correct Answer
A) The escrow officer, who must verify the accuracy of all other sections
The escrow officer has no role in completing any section of the TDS. The TDS is completed by three parties: the seller (property condition disclosure), the listing agent (agent visual inspection), and the buyer's agent (agent visual inspection). Escrow officers handle the closing process but do not verify or contribute to the TDS.
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Previous Question
A California listing agent conducts a visual inspection and notices no visible defects. However, the agent knows from a previous transaction two years ago that the neighboring property had serious soil contamination that extended to the boundary of the current listing. The seller is unaware of this issue. Under California law, what is the listing agent's obligation?
Next Question
Under California Civil Code §1102, what is the primary purpose of the Transfer Disclosure Statement (TDS) in a residential sale?