An Ohio property is subject to an agricultural preservation easement that restricts development. The seller wants to sell the property for residential development. Under Ohio disclosure law, what must the seller disclose?
Correct Answer
C) The agricultural preservation easement and its restrictions on development
The agricultural preservation easement is a material encumbrance that restricts what can be done with the property. The seller must disclose the easement and its development restrictions so the buyer understands the property's limitations.
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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.
More Oh Disclosure Requirements Questions
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Susan, an Ohio buyer's agent, discovers that a property she is showing has a known code violation. Under Ohio law, what is Susan's disclosure obligation?
- → 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?
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- → 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?
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