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Mandated DisclosuresSeller LiabilityMEDIUM

Under Rhode Island law, what protection does good faith disclosure generally provide to a seller who honestly discloses a known property defect?

Correct Answer

B) The seller is protected from liability for defects that were honestly and fully disclosed

Under Rhode Island's seller disclosure law (RIGL § 5-20.8), a seller who honestly and completely discloses known defects in good faith is generally protected from liability arising from those disclosed conditions. The good faith disclosure limits the seller's liability by putting the buyer on notice of the defect. Sellers are not required to repair disclosed defects, but they must accurately report known material defects on the required disclosure form.

Answer Options
A
The seller is required to repair all disclosed defects before closing
B
The seller is protected from liability for defects that were honestly and fully disclosed
C
The seller remains fully liable for any buyer claims after closing
D
The seller is exempt from completing the required disclosure form

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Related Topics & Key Terms

Related Topics:

material defectsas-is salesbuyer due diligenceRIGL 5-20.8

Key Terms:

good faith disclosureRIGL 5-20.8seller liabilitymaterial defectsresidential disclosure form

Related Concepts

Protected classes are groups of people who are legally shielded from discrimination based on specific characteristics.

Radon disclosure involves informing buyers about the presence or potential presence of radon gas in a property. Radon is a naturally occurring radioactive gas that can accumulate in buildings and is the second leading cause of lung cancer.

Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.

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