Mandated DisclosuresDisclosures
Mandated Disclosures Practice Question
Under federal law, a seller's disclosure of known material defects is required for:
A
All residential propertiesB
Only properties built before 1978 (lead paint)C
Only foreclosed propertiesD
Federal law requires lead paint disclosure; other disclosures are state-mandatedExplanation
At the federal level, the only required seller disclosure is for lead-based paint in homes built before 1978. General property disclosure requirements (structural defects, flooding history, etc.) are determined by state law and vary significantly.
More Mandated Disclosures Questions
Which federal law requires disclosure of known lead-based paint hazards in residential properties built before 1978?
For properties built before 1978, buyers must be given how many days to conduct a lead-based paint inspection?
The majority of homes built before _____ used lead paint.
Broker discovering defect before settlement must:
What property requires Texas Seller's Disclosure?
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