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Mandated DisclosuresSeller_property_disclosure_formEASY

Margaret is selling her single-family home in Montpelier, Vermont. She fails to provide the buyer with a Vermont residential property disclosure form before the purchase and sale agreement is signed, and the buyer later discovers undisclosed material defects. Under Vermont law, what is the buyer's primary remedy?

Correct Answer

B) A common-law claim for fraud, misrepresentation, or breach of contract seeking damages or rescission

Vermont does not impose a statutory residential seller-disclosure rescission scheme; a buyer harmed by undisclosed defects must pursue common-law remedies such as fraud, misrepresentation, or breach of contract, seeking damages or, in appropriate cases, rescission.

Answer Options
A
Automatic rescission of the contract within five days of receiving the disclosure
B
A common-law claim for fraud, misrepresentation, or breach of contract seeking damages or rescission
C
An automatic refund of the earnest money with no further remedy
D
A complaint filed with the Vermont Real Estate Commission for a statutory penalty paid to the buyer

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Related Topics & Key Terms

Key Terms:

seller_disclosurerescissionlate_deliverybuyer_remedy27_VSA_1154

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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