Marie, an Ohio seller, is selling her condo unit. The condo association is involved in a lawsuit with a neighboring property owner over a shared parking area. Under Ohio law, must Marie disclose this pending litigation on the disclosure form?
Correct Answer
A) Yes, pending litigation affecting the property or association should be disclosed as a known condition
Under Ohio disclosure principles, pending litigation that may affect the property or the condominium association is a material condition that should be disclosed. This litigation could result in financial obligations for unit owners (such as special assessments) and affects the buyer's decision.
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More Oh Disclosure Requirements Questions
An Ohio property is in a township that has recently enacted a point-of-sale inspection requirement for residential property transfers. The seller was not aware of this new requirement. Under Ohio practice, whose responsibility is it to ensure compliance with local point-of-sale requirements?
An Ohio listing agent receives a home inspection report from the buyer's agent showing significant issues. The listing agent's current listing on the same property expires, and 6 months later, a new agent lists the property. Under Ohio law, does the original listing agent have any obligation regarding the inspection report?
An Ohio property has a private road easement that requires the property owner to share maintenance costs with 4 other property owners. Under Ohio disclosure law, what must the seller disclose?
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?
- → Kevin, an Ohio first-time seller, asks whether he must disclose that his property is connected to the municipal sewer system. 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?
- → Lisa, an Ohio seller, discovers that her property's drinking water has high iron content, causing staining of fixtures. The water is safe to drink but cosmetically unpleasant. Under Ohio disclosure law, must Lisa disclose this?
- → 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?
- → Roger, an Ohio seller, asks his agent whether mold is considered an environmental hazard that must be disclosed. Under Ohio disclosure practice, which statement is correct?
- → Matt, an Ohio first-time seller, asks his agent what an underground storage tank (UST) is and why it matters for disclosure. Under Ohio environmental law, why must USTs be disclosed?
- → Amanda, an Ohio seller, is completing the Residential Property Disclosure Form. The form asks about environmental hazards. Under Ohio law, which of the following must be disclosed if known?
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Previous Question
An Ohio seller discloses a history of radon testing on the Residential Property Disclosure Form. The test from 3 years ago showed 3.8 pCi/L, which is below the EPA action level of 4.0 pCi/L. After closing, the buyer tests and finds 5.5 pCi/L. Under Ohio law, is the seller liable?
Next Question
John, an Ohio seller, discloses that the home has an addition that was built without a building permit. Under Ohio law, what impact does this have on the buyer's position?