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Mandated DisclosuresSeller_property_condition_disclosure_form_requirementsEASY

Under the Utah Seller Disclosure Act, which type of property transaction triggers the requirement for a seller to complete a Seller's Property Condition Disclosure form?

Correct Answer

D) Residential real property transactions involving one to four dwelling units

Under Utah Code Ann. § 57-27, the Seller Disclosure Act applies specifically to the sale of residential real property, which includes properties with one to four dwelling units. The seller is required to complete the Seller's Property Condition Disclosure form disclosing known material defects in such transactions.

Answer Options
A
Any property transaction where the purchase price exceeds $250,000
B
Any real property transaction, including commercial and industrial properties
C
Only new construction homes sold directly by a licensed builder
D
Residential real property transactions involving one to four dwelling units

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Related Topics & Key Terms

Key Terms:

seller_disclosureresidential_propertyutah_seller_disclosure_actproperty_condition

Related Concepts

The Lead-Based Paint Disclosure is a federally mandated disclosure required for all residential properties built before 1978. Sellers and landlords must disclose known lead-based paint hazards and provide the EPA pamphlet "Protect Your Family From Lead in Your Home."

A material defect is a condition that significantly affects the value, desirability, or safety of a property and that would likely influence a reasonable buyer's decision to purchase or the price they would pay.

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.

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