Agent Susan represents sellers who installed a septic system without proper permits five years ago. The system functions well, but the sellers are concerned about disclosure requirements. The buyers are obtaining financing that may require septic inspection. What should Susan advise under Georgia law?
Correct Answer
A) Disclose the unpermitted installation as it's a material fact that could affect financing and future use
Correct: Unpermitted septic systems are material facts that must be disclosed as they can affect financing, insurance, future repairs, and legal compliance regardless of current functionality. Why not B: Material facts must be disclosed proactively, not reactively. Why not C: Permit status is material regardless of functionality. Why not D: While obtaining permits might be advisable, the immediate legal requirement is disclosure.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Radon disclosure involves informing buyers about the presence or potential presence of radon gas in a property. Radon is a naturally occurring radioactive gas that can accumulate in buildings and is the second leading cause of lung cancer.
Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.
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.
More Mandated Disclosures Questions
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