A listing broker in Asheville is updating the policy manual on Mineral and Oil and Gas disclosure timing, scope, and waiver limits. Which statement best applies under current North Carolina law?
Correct Answer
B) The mineral and oil and gas disclosure requirement generally cannot be waived merely because the parties agree to skip the ordinary residential property disclosure statement.
The mineral and oil and gas disclosure requirement generally cannot be waived merely because the parties agree to skip the ordinary residential property disclosure statement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
Many states and localities have fair housing laws that expand upon the protections offered by the federal Fair Housing Act.
More Mandated Disclosures Questions
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