A Kentucky homeowner, Patricia, is selling her primary residence and has listed it 'as-is.' She believes that because she is selling the property in its current condition without making repairs, she is exempt from completing the Kentucky Seller Disclosure form. Which of the following best describes Patricia's legal obligation?
Correct Answer
C) Patricia must still complete the Kentucky Seller Disclosure form because 'as-is' sales by owner-occupants are not a recognized exemption under KRS 324.360.
Under KRS 324.360, an 'as-is' designation by an owner-occupant does not exempt the seller from completing the required disclosure form. The Kentucky Seller Disclosure Act's exemptions are specific and do not include 'as-is' sales by owner-occupants. Patricia must disclose known material defects regardless of her intent to sell without making repairs.
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Related Topics & Key Terms
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Related Concepts
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.
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.
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