A seller is selling a condominium in a California common interest development (CID). In addition to the TDS, which disclosure package is the seller required to provide under California Civil Code §4525?
Correct Answer
D) A written statement from the HOA confirming no disputes exist between the association and any unit owners
California Civil Code §4525 (formerly §1368) requires CID sellers to provide buyers with the HOA's CC&Rs, bylaws, rules and regulations, current financial statements, reserve study, pending or approved special assessments, insurance summary, and other governance documents. This package gives buyers the information needed to evaluate the financial health and operational rules of the association.
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Practice Of Real Estate Disclosures Question
Background Knowledge for Practice Of Real Estate Disclosures
Real World Application in Practice Of Real Estate Disclosures
Common Mistakes to Avoid on Practice Of Real Estate Disclosures Questions
Related Topics & Key Terms
Key Terms:
More Practice Of Real Estate Disclosures Questions
All exemplify lawful private real estate controls except:
A landlord must give a month-to-month tenant how many days' notice to terminate the tenancy in California (for tenancies less than one year)?
A California apartment complex was built in 1985. A wheelchair-bound applicant applies for a ground-floor unit and asks the landlord to widen the doorways to accommodate the wheelchair. Under fair housing law, who is responsible for the cost of the modification?
A property in a California Mello-Roos district has a base Proposition 13 property tax of 1% on its assessed value of $600,000, plus a Mello-Roos special tax of $3,200 per year. What is the total annual property tax bill for this property?
A California buyer's agent conducts a visual inspection of a property and observes extensive, recently applied caulking around all window frames and along the base of the exterior walls. What is the buyer's agent's most appropriate next step?
- → A California buyer's agent conducts a visual inspection and notices that the property's water heater is not strapped to the wall as required by California law for seismic safety. Under California Health and Safety Code §19211, water heaters must be braced. What should the buyer's agent do?
- → Tenant died in apartment unit two years ago. Landlord discloses death to prospective tenant, mentioning AIDS-related cause. Which statement is correct?
- → A homeowner in a California Mello-Roos district wants to pay off the remaining Mello-Roos bond obligation on their property. The outstanding principal balance of the bonds allocated to the property is $35,000, and the CFD charges a 3% prepayment premium. What is the total payoff amount?
- → Under California's Mello-Roos Community Facilities Act, special taxes levied within a CFD may fund all of the following EXCEPT:
- → A buyer in Los Angeles asks her agent about the difference between the TDS and the NHD. Which statement BEST explains the distinction?
- → Consider a prepaid rental listing service that intends to relocate. When is the listing service required to provide notice of the new address and telephone number to its clients?
- → In California, the Transfer Disclosure Statement (TDS) must be provided by:
- → After smoking, this is the second leading cause of lung cancer. A naturally occurring gas that forms in rocks, soil, and water:
- → Broker discovering defect before settlement must:
- → Under California law, sellers must disclose earthquake risks for homes built before:
People Also Study
Buyer Representation Agreement
8% of exam
Property Ownership
10% of exam
Land Use Controls and Regulations
8% of exam
Valuation and Market Analysis
10% of exam
Previous Question
A California listing agent represents a seller who is an elderly widow with limited English proficiency. The seller does not fully understand the TDS questions and asks the agent to fill out the seller's section for her. Under California law, how should the agent handle this situation?
Next Question
California Civil Code §1103 requires sellers to disclose whether a property falls within certain statutory natural hazard zones on the Natural Hazard Disclosure Statement (NHD). How many specific zones must be addressed, and which of the following correctly identifies all of them?