Leilani is selling her Honolulu condominium to David. She provides David with the required seller disclosure statement on Monday. David signs the purchase contract on Wednesday of the same week. Under HRS Chapter 508D, which statement best describes the timing of disclosure in this transaction?
Correct Answer
B) The disclosure was provided correctly; HRS 508D requires delivery before the buyer signs the purchase contract
Under HRS Chapter 508D, the seller's disclosure statement must be provided to the buyer before the buyer signs the purchase contract. Leilani provided the disclosure on Monday and David signed the contract on Wednesday, which satisfies the statutory requirement. This sequence — disclosure first, then contract signing — is the correct order mandated by Hawaii law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Violating fair housing laws can lead to significant penalties, including fines, civil liability, and professional discipline.
Death on property disclosure addresses whether sellers must inform buyers about deaths that occurred on the property, including natural deaths, suicides, and murders. Requirements vary significantly by state.
Environmental hazards disclosure involves informing buyers about environmental contamination or hazards affecting or potentially affecting a property, including underground storage tanks, contaminated soil, hazardous waste, and proximity to Superfund sites.
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