Karen is selling her single-family home in Sioux Falls. Her listing agent, Tom, hands the completed seller disclosure statement to the buyer's agent during the showing. The buyer, Lisa, reviews and signs the acknowledgment form three days later. Under South Dakota law, which statement best describes whether this process was handled correctly?
Correct Answer
D) The process was correct because the seller completed the form and it was delivered to the buyer prior to contract execution.
Under SDCL 43-4-38, the seller must deliver the completed disclosure statement to the buyer before the buyer makes a written offer. In this scenario, Karen completed the form, Tom delivered it during the showing, and Lisa signed the acknowledgment before any purchase contract was executed. This sequence satisfies the statutory requirement. The law does not require the seller to personally hand-deliver the form; delivery through the listing agent is acceptable.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.
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.
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