Sandra is selling her home in Lawrence, Kansas. After she delivers the property condition disclosure statement to the buyer, Sandra discovers a previously unknown water intrusion problem in the basement. The purchase contract has already been signed by both parties. Under Kansas law, what must Sandra do?
Correct Answer
D) Provide the buyer with an amended or supplemental disclosure statement reflecting the newly discovered condition
Under the Kansas Residential Real Property Disclosure Act, if the seller discovers a material defect or change in the property's condition after delivering the disclosure statement, the seller is required to provide the buyer with an amended or supplemental disclosure statement. The buyer then has the right to review the updated information and may have the right to rescind the contract.
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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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