Under New York environmental disclosure requirements, real estate agents must disclose all of the following environmental conditions EXCEPT:
Correct Answer
D) Radon levels that exceed EPA action guidelines based on recent testing
While radon disclosure is recommended and may be required in some states, New York does not have a specific statutory requirement for real estate agents to disclose radon levels. However, agents should still inform buyers about the importance of radon testing and may choose to disclose known high levels as a material fact.
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Many states and localities have fair housing laws that expand upon the protections offered by the federal Fair Housing Act.
A stigmatized property is one that has an undesirable reputation due to events that occurred on the property or nearby, such as a murder, suicide, alleged haunting, or proximity to a registered sex offender. The stigma is psychological, not physical.
An as-is clause in a real estate contract states that the buyer accepts the property in its current condition without requiring the seller to make any repairs. However, an as-is sale does NOT eliminate the seller's obligation to disclose known defects.
More Environmental Issues Ny Disclosure Requirements Questions
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A New York real estate agent represents a buyer interested in a property near the Gowanus Canal in Brooklyn, which is designated as a federal Superfund site. The target property is not within the Superfund site boundaries but is located 200 feet away. What should the agent advise the buyer?
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A New York seller's property has a heating oil tank in the basement that was installed in 1995 and is still in active use. The seller has maintained the tank and it shows no signs of leakage. What disclosure obligations exist regarding this tank?