Combine Legal Michigan Disclosures Forms For Free

Laws Ann. § 565.957.) The form is essentially a checklist asking you to indicate the condition of various features of the property, such as appliances, roof, basement, and HVAC systems, and known problems affecting it, such as encroachment issues, environmental issues, and pending legal issues.

Updated on October 17th, 2023. A Michigan property disclosure statement is a form through which sellers must report the condition of their residential real estate to potential buyers.

Purpose of Statement: This statement is a disclosure of the condition of the property in compliance with the seller disclosure act. This statement is a disclosure of the condition and information concerning the property, known by the seller.

An exempt seller in the most common scenario is when a property is held in a trust and the trustee does not reside in the property. The seller is exempt from having to fill out the Transfer Disclosure Statement. In that rare case C.A.R. has created the form Exempt Seller disclosure.

Every problem with the property must be disclosed, whether it is a malfunctioning appliance or noncompliance with local zoning laws. However, some properties are exempt from the seller disclosure requirements. Homes that are inherited, foreclosed or transferred through court orders are exempt.

The transfer of property that is ordered by court can often be exempt. Foreclosed properties often are sold without full disclosures too. Homes that are inherited, or certain deed transfers, are also exempt from completing a Seller Disclosure Statement.