Under California Civil Code §1102, what is the primary purpose of the Transfer Disclosure Statement (TDS) in a residential sale?
Correct Answer
C) To certify that the property has passed all required government inspections
California Civil Code §1102 requires sellers of residential property to provide a TDS disclosing known material defects, conditions, and other facts about the property. The statute's purpose is to ensure buyers receive written information necessary to make an informed purchasing decision.
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Previous Question
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:
Next Question
A California seller provides a TDS that accurately describes all known conditions at the time of signing. Three weeks later, a strong earthquake causes visible cracks in the home's walls and damages the chimney. Escrow has not yet closed. What must the seller do?