Buyer's agent Tom learns from a neighbor that the property his client wants to purchase was the site of a suicide two years ago. The seller has not disclosed this information. What are Tom's obligations under Georgia law?
Correct Answer
D) Keep the information confidential as it's not a material fact under Georgia law
Correct: D - Keep the information confidential as it's not a material fact under Georgia law. § 44-1-16, deaths on property (including suicides) are specifically excluded from material fact disclosure requirements in Georgia unless they affect the physical condition of the property. Why not A: This option is incorrect because "Only disclose if the buyer specifically asks about deaths on the property" does not match the rule tested by the question. The correct answer is "Keep the information confidential as it's not a material fact under Georgia law". § 44-1-16, deaths on property (including suicides) are specifically excluded from material fact disclosure requirements in Georgia unless they affect the physical condition of the property. Why not B: This option is incorrect because "Inform his buyer client about the suicide immediately" does not match the rule tested by the question. The correct answer is "Keep the information confidential as it's not a material fact under Georgia law". § 44-1-16, deaths on property (including suicides) are specifically excluded from material fact disclosure requirements in Georgia unless they affect the physical condition of the property. Why not C: This option is incorrect because "Require the seller to disclose this information" does not match the rule tested by the question. The correct answer is "Keep the information confidential as it's not a material fact under Georgia law". § 44-1-16, deaths on property (including suicides) are specifically excluded from material fact disclosure requirements in Georgia unless they affect the physical condition of the property.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An as-is clause in a real estate contract states that the buyer accepts the property in its current condition without requiring the seller to make any repairs. However, an as-is sale does NOT eliminate the seller's obligation to disclose known defects.
Asbestos disclosure involves informing buyers about the presence of asbestos-containing materials (ACMs) in a property. Asbestos was commonly used in construction materials before 1980 and poses health risks when fibers become airborne.
Violating fair housing laws can lead to significant penalties, including fines, civil liability, and professional discipline.
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