Under Tennessee law, which of the following is NOT a valid exemption from the Tennessee Residential Property Condition Disclosure requirement when transferring residential property?
Correct Answer
D) A transfer where the buyer waives the disclosure in writing after negotiation
Under the Tennessee Residential Property Condition Disclosure Act (Tenn. Code Ann. § 66-5-201 et seq.), there is NO provision allowing a buyer to waive the disclosure requirement through written negotiation. The disclosure requirement is a statutory mandate, and the exemptions are specifically enumerated in the statute. A buyer's written waiver is NOT one of the recognized exemptions. The seller must provide the disclosure form for all covered transactions unless a specific statutory exemption applies.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
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