Carlos is purchasing a duplex in Twin Falls, Idaho. The seller, Diana, completed and delivered the Idaho Property Condition Disclosure Form to Carlos three days after he signed the purchase agreement. Carlos later discovers a significant foundation issue that was not disclosed on the form. Which of the following statements most accurately describes the legal situation under Idaho law?
Correct Answer
B) Diana violated the Idaho Property Condition Disclosure Act because the form must be delivered prior to or at the time of entering into the purchase agreement, and she may face liability for the undisclosed defect
Under Idaho Code § 55-2501 et seq., the seller must complete and deliver the Property Condition Disclosure Form to the buyer prior to or at the time of entering into a purchase agreement. Diana delivered the form three days after the agreement was signed, which violates the statutory timing requirement. Additionally, a known material defect such as a foundation issue must be disclosed on the form. Diana's failure to disclose a known material defect and her late delivery of the form both create potential legal liability.
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Related Topics & Key Terms
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Related Concepts
Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
A property condition disclosure is a written statement by the seller detailing the known condition of the property, including defects, repairs, and issues with major systems. Most states require sellers to complete this form.
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