Patricia is selling her single-family home in Lexington, Massachusetts, which was built in 1965. The buyer's Purchase and Sale Agreement includes a clause stating that the seller makes no representations about the condition of the property and the buyer accepts it 'as-is.' Under Massachusetts law, which of the following statements is MOST accurate regarding the seller's disclosure obligations?
Correct Answer
D) The seller and her licensee may still be liable under MGL Chapter 93A for knowingly concealing or misrepresenting material defects despite the 'as-is' clause
Massachusetts follows a general caveat emptor (buyer beware) approach for property condition and does not require a mandatory seller property condition disclosure form. However, an 'as-is' clause does not insulate a seller or licensee from liability under MGL Chapter 93A for knowingly concealing or actively misrepresenting material defects. Deliberate concealment or misrepresentation of known defects constitutes an unfair or deceptive act, exposing the seller and licensee to double or treble damages and attorney's fees under Chapter 93A.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The Statute of Frauds is a legal requirement that certain types of contracts must be in writing and signed to be enforceable. In real estate, all contracts for the sale of land or interests in land must be in writing.
A time is of the essence clause in a contract means that all deadlines and dates specified in the agreement are strictly enforceable, and failure to meet them constitutes a material breach.
An appraisal contingency allows the buyer to cancel or renegotiate the contract if the property's appraised value comes in lower than the agreed-upon purchase price. This contingency protects buyers from overpaying.
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