Under the Delaware Residential Real Property Disclosure Act, when must a seller deliver the completed written disclosure form to a prospective buyer?
Correct Answer
A) Before ratification of the purchase contract
Under 6 Del. C. § 2572, the seller must complete and deliver the written disclosure form to the prospective buyer before ratification of the purchase contract. This pre-ratification timing requirement is a core element of the Delaware Residential Real Property Disclosure Act and ensures buyers have material information before they are contractually bound.
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Previous Question
A buyer's agent in Connecticut, Rachel, is representing a client purchasing a mixed-use building. During due diligence, Rachel discovers that the property is subject to the Connecticut Transfer Act and that the seller has filed Form III, establishing a post-transfer remediation schedule. The buyer is eager to close quickly. Which of the following best describes the legal and professional implications for Rachel and her client under Connecticut law?
Next Question
Margaret owns a condominium in Wilmington and is selling it to her brother David. The two co-own a small rental property together in Kent County. Margaret provides David with a standard purchase contract but does not deliver a Delaware Residential Real Property Disclosure form. Has Margaret violated the Delaware Residential Real Property Disclosure Act?