Under the Colorado Seller's Property Disclosure Act, which form must a seller of residential real property use to disclose known material defects to a buyer?
Correct Answer
B) The CREC-approved Seller's Property Disclosure form
Under C.R.S. § 38-35.7-101 et seq., the Colorado Seller's Property Disclosure Act requires sellers of residential real property to use the CREC-approved Seller's Property Disclosure form to disclose known material defects. Colorado mandates use of this specific commission-approved form.
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Maria is selling her single-family home in Denver. She is aware that the basement has experienced water intrusion during heavy rain events but has since patched the wall. She does not mention this issue to the buyer. Under Colorado law, which of the following best describes Maria's obligation?