Under the Vermont Residential Real Estate Disclosure Act (27 V.S.A. § 1154), the seller's standardized disclosure form is designed to inform buyers about a range of property conditions. Which of the following is NOT a category of information typically required to be disclosed on the Vermont residential seller disclosure form?
Correct Answer
A) The seller's original purchase price and all capital improvements made since acquisition
The Vermont residential seller disclosure form does not require sellers to disclose their original purchase price or an itemized list of capital improvements made since acquisition. The form is focused on the physical condition of the property, environmental hazards, and system types and defects—not the seller's financial history with the property. Disclosing purchase price and improvement costs is not mandated by 27 V.S.A. § 1154.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
A property condition disclosure is a written statement by the seller detailing the known condition of the property, including defects, repairs, and issues with major systems. Most states require sellers to complete this form.
Protected classes are groups of people who are legally shielded from discrimination based on specific characteristics.
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