Seller Park has owned an investment property for 3 years but has never lived in it. Tenants have reported occasional plumbing issues but Park has not personally verified the problems. On the Seller's Disclosure Notice, Park checks 'unknown' for plumbing condition. Is this appropriate?
Correct Answer
B) No, Park should check 'Yes' because tenants reported problems, which constitutes knowledge
When tenants have reported plumbing issues to the owner, those reports constitute knowledge that the seller should disclose. Park cannot claim 'unknown' when tenants have reported specific problems. The reports give Park constructive knowledge of the issues.
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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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Previous Question
Seller Davis sells a property without providing the Seller's Disclosure Notice, claiming the property is sold 'as-is.' Under Texas law, does the 'as-is' provision eliminate the disclosure requirement?
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A Texas seller is completing the Seller’s Disclosure Notice after the property had prior structural repairs and termite treatment. Which condition must be addressed on the notice?