A Texas HOA has a deed restriction that prohibits short-term rentals (less than 30 days). Seller Quinn has been operating an Airbnb on the property for 2 years. On the Seller's Disclosure, Quinn does not mention the deed restriction violation. Is this a disclosure issue?
Correct Answer
A) Yes, the seller should disclose both the deed restriction on short-term rentals and the ongoing violation
The seller should disclose both the deed restriction prohibiting short-term rentals and the fact that there is an ongoing violation. Both are material facts that affect the buyer's use of the property and potential liability.
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Related Concepts
Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.
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.
More Texas Property Code Disclosures Questions
In Texas, a property owner discovers that their property was previously used as an illegal dump site for construction debris. Some debris contains asbestos materials. Under the Seller's Disclosure Notice, what must the owner disclose?
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Under the Texas Seller's Disclosure Notice, the seller must disclose whether the property has:
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