Mark, an Ohio seller, is selling a rental property he has never lived in. His agent asks whether the Ohio Residential Property Disclosure Form is required. Under ORC §5302.30, which statement is correct?
Correct Answer
C) The disclosure form is not required because ORC §5302.30 applies only to owner-occupied residential properties
ORC §5302.30 requires the Residential Property Disclosure Form only for the sale of owner-occupied residential property. Since Mark never lived in the rental property, the statutory disclosure form is not required. However, the seller still has a common law duty not to conceal known material defects.
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Related Topics & Key Terms
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Related Concepts
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.
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.
More Oh Disclosure Requirements Questions
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- → Jake, an Ohio seller, has a property with a French drain system installed to address yard drainage issues. Under Ohio disclosure law, must Jake disclose the drainage system?
- → Terry, an Ohio seller, has a property with a water softener installed to treat hard water from the private well. Under Ohio disclosure law, must Terry disclose the water softener and the reason for its installation?
- → Tom, an Ohio seller, asks whether he must disclose that the property has a sump pump in the basement. Under Ohio disclosure practice, which statement is correct?
- → Nancy, an Ohio buyer, is purchasing a property and asks about environmental assessments. Her agent explains the different phases. Under Ohio environmental practice, what is the purpose of a Phase I Environmental Site Assessment?
- → Sara, an Ohio buyer, asks her agent whether she should conduct an environmental assessment before purchasing a residential property in a suburban neighborhood. Under Ohio practice, when is an environmental assessment typically recommended?
- → Christine, an Ohio seller, knows her property contains asbestos floor tiles in the basement. The tiles are in good condition and undamaged. Under Ohio disclosure law, must Christine disclose the asbestos?
- → Emily, an Ohio buyer, is purchasing a property near a former landfill. She asks her agent about potential environmental concerns. Under Ohio practice, what should the agent advise?
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Previous Question
Sarah, a seller in Ohio, is preparing to list her owner-occupied single-family home. Her listing agent informs her of Ohio's disclosure requirements. Under ORC §5302.30, what form must Sarah complete?
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Jennifer, an Ohio seller, is completing the Residential Property Disclosure Form. The form asks about the condition of the roof. Jennifer had the roof repaired 3 years ago but is unsure of its current condition. Under Ohio law, how should Jennifer answer?