In California, the Transfer Disclosure Statement (TDS) must be provided by:
Correct Answer
B) The seller
In California, the seller is required to provide a Transfer Disclosure Statement to the buyer, disclosing known material facts about the property's condition.
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Related Topics & Key Terms
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Related Concepts
Flood zone disclosure requires informing buyers whether a property is located in a designated flood zone as mapped by FEMA. Properties in high-risk flood zones may require mandatory flood insurance.
HOA disclosure requires informing buyers about the existence, rules, fees, financial health, and restrictions of a homeowners association governing the property. This information helps buyers understand their obligations before purchase.
The Lead-Based Paint Disclosure is a federally mandated disclosure required for all residential properties built before 1978. Sellers and landlords must disclose known lead-based paint hazards and provide the EPA pamphlet "Protect Your Family From Lead in Your Home."
More Practice Of Real Estate Disclosures Questions
Under California law, a real estate agent owes a duty of honest and fair dealing to all parties in a transaction, not only to the agent's own client. Which provision most directly establishes this duty?
A landlord is required to provide a copy of the written lease to the tenant within:
A California-licensed salesperson uses the title 'Real Estate Consultant' on business cards and marketing materials without holding any special certification or designation. Under DRE regulations, this practice is:
Barnard made an offer to buy a vacant residence. The offer was accepted by the seller. Prior to the close of escrow, Barnard requested permission from the broker to enter and make minor repairs to the house. Which of the following is true?
Most common business structure for one individual:
- → A developer proposes a new eight-unit condominium building in San Francisco on a parcel that an NHD report shows lies within a delineated Alquist-Priolo Earthquake Fault Zone. Under the Alquist-Priolo Act, what must happen before the city may approve the project?
- → At a DRE administrative disciplinary hearing in California, what standard of proof must the Department meet to sustain a finding against a licensee?
- → The Transfer Disclosure Statement requires sellers to disclose various known property conditions under California Civil Code §1102 et seq. All of the following must be disclosed on the TDS EXCEPT:
- → California's Holden Act (Housing Financial Discrimination Act, HSC §35800) addresses lending discrimination. All of the following lending practices are prohibited by the Holden Act EXCEPT:
- → A salesperson receives a $2,000 cash earnest money deposit from a buyer during a property showing. Under California trust fund rules, what is the salesperson's required next step?
- → A California salesperson receives a $3,000 earnest money deposit from a buyer on Tuesday morning. The salesperson does not deliver the funds to the broker until the following Monday. Under California trust fund rules, has a violation occurred?
- → A California property owner in a Mello-Roos CFD discovers that the bond proceeds were mismanaged by the CFD administrator and the planned community park was never built, even though property owners have been paying the special tax for 10 years. What legal recourse does the property owner have?
- → The Real Estate Commissioner may discipline a licensee for the conduct described in Business and Professions Code §§10176 and 10177. Which of the following would NOT be grounds for disciplinary action?
- → Which of the following correctly describes California's mandatory fair housing continuing education requirement for real estate license renewal?
- → The main purpose of the Uniform Commercial Code is to:
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