Under ORC §5302.30, certain property transfers are exempt from the Ohio Residential Property Disclosure Form requirement. All of the following transfers are exempt EXCEPT:
Correct Answer
C) A sale of an owner-occupied single-family home by the homeowner to a private buyer
The sale of an owner-occupied single-family home by the homeowner to a private buyer is exactly the type of transfer that REQUIRES the Residential Property Disclosure Form under ORC §5302.30. This is not an exempt transaction.
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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?
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David, an Ohio seller, discloses a history of basement water intrusion on the Residential Property Disclosure Form. He notes that he installed a sump pump 2 years ago to address the issue. After closing, the buyer experiences flooding in the basement. Under Ohio law, does David have liability?