Margaret owns a condominium in Wilmington outright and is selling it to her brother David. Margaret and David do not co-own the Wilmington condominium, although they co-own a separate rental property in Kent County. Margaret provides David with a standard purchase contract but does not deliver a Delaware Seller's Disclosure of Real Property Condition Report. Has Margaret violated the Delaware Buyer Property Protection Act?
Correct Answer
A) Yes, because the Act's co-owner exemption applies only to transfers between co-owners of the property being sold, and David is not a co-owner of the Wilmington condominium
Delaware's Buyer Property Protection Act (6 Del. C. ch. 25, subch. VII) exempts transfers between co-owners only when they are co-owners of the property being transferred. Because David is not a co-owner of the Wilmington condominium, the exemption does not apply and Margaret must deliver the disclosure form.
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Related Topics & Key Terms
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