Sarah is selling her single-family home in Bangor, Maine. Her listing agent, Tom, is preparing the transaction paperwork. Under Maine law, who is primarily responsible for completing the seller's property disclosure statement?
Correct Answer
A) Sarah, the seller, because the disclosure statement reflects the seller's known knowledge of the property
Under the Maine Seller Disclosure Act, 33 M.R.S. §§ 173–174, it is the seller who is responsible for completing the written property disclosure statement. The form is based on the seller's personal knowledge of the property's condition, including known material defects and other relevant conditions. The listing agent's role is to ensure compliance, but the seller completes the form.
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Related Topics & Key Terms
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Related Concepts
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.
Protected classes are groups of people who are legally shielded from discrimination based on specific characteristics.
Radon disclosure involves informing buyers about the presence or potential presence of radon gas in a property. Radon is a naturally occurring radioactive gas that can accumulate in buildings and is the second leading cause of lung cancer.
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