Maria is selling her single-family home in Omaha, Nebraska. Her listing agent, Derek, tells her that because the buyer has agreed in writing to purchase the property 'as-is,' the Seller Property Condition Disclosure Statement is no longer required. Which statement best describes the legal accuracy of Derek's advice?
Correct Answer
D) Derek is incorrect because the Nebraska Seller Property Condition Disclosure Act does not permit the seller to waive the disclosure requirement.
Under the Nebraska Seller Property Condition Disclosure Act (Neb. Rev. Stat. §§ 76-2,120 to 76-2,130), the seller's obligation to complete and deliver the Seller Property Condition Disclosure Statement cannot be waived. Neither an 'as-is' clause nor a buyer's written agreement eliminates this statutory requirement. Derek's advice is legally incorrect and could expose both him and Maria to liability.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
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.
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