Under the Delaware Residential Real Property Disclosure Act, which of the following transactions is NOT exempt from the seller disclosure requirement?
Correct Answer
D) A standard arm's-length sale of a previously occupied single-family home by an individual seller to an unrelated buyer
A standard arm's-length sale of a previously occupied single-family home by an individual seller to an unrelated buyer is NOT exempt from the Delaware Residential Real Property Disclosure Act — it is precisely the type of transaction the Act is designed to cover. The seller must deliver a completed written disclosure form before contract ratification. This is the core covered transaction under 6 Del. C. § 2570 et seq., and no exemption applies.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
Many states and localities have fair housing laws that expand upon the protections offered by the federal Fair Housing Act.
A stigmatized property is one that has an undesirable reputation due to events that occurred on the property or nearby, such as a murder, suicide, alleged haunting, or proximity to a registered sex offender. The stigma is psychological, not physical.
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