Kevin is purchasing a duplex in Salt Lake City, Utah. The seller, Patricia, provides Kevin with the Seller's Property Condition Disclosure form after the REPC has already been signed by both parties. Kevin reviews the form and discovers that the roof has a known leak that was not mentioned during negotiations. Under the Utah Seller Disclosure Act, what right does Kevin have in this situation?
Correct Answer
A) Kevin may rescind the purchase contract within a reasonable time after receiving the disclosure
Under Utah Code Ann. § 57-27, if the seller delivers the Seller's Property Condition Disclosure form after the purchase contract has been signed, the buyer retains the right to rescind the contract within a reasonable time after receiving the disclosure. This protection exists precisely to prevent sellers from strategically delaying disclosure until after signing.
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Related Topics & Key Terms
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Related Concepts
Flood zone disclosure requires informing buyers whether a property is located in a designated flood zone as mapped by FEMA. Properties in high-risk flood zones may require mandatory flood insurance.
HOA disclosure requires informing buyers about the existence, rules, fees, financial health, and restrictions of a homeowners association governing the property. This information helps buyers understand their obligations before purchase.
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."
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