Split Legal Kentucky Home Sale Forms For Free

Full disclosure during the sale of the home is required by law. Failure to disclose any known issues or problems with the house or property can result in legal action from the buyer. This includes previous damage from a fire or natural disaster or broken heat and central air systems.

The Seller Disclosure of Property Condition applies to all sales and purchases of residential real estate in Kentucky, except for in the case of a court supervised foreclosure, a sale of real estate at auction or residential purchases of new homes if a warranty is offered.

In general, a disclosure document is supposed to provide details about a property's condition that might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime. Selling a property "As Is" will usually not exempt a seller from disclosures.

Disclosure Law in Kentucky for Home Sales The law in question is Kentucky Revised Statutes § 324.360, which requires sellers of single-family residential properties to make certain disclosures to potential buyers. This law applies regardless of whether a licensed salesperson or broker is involved in the transaction.

If selling a home in the Bluegrass State, you'll need to be mindful of Kentucky's disclosure requirements. Sellers of residential property are required by state law to disclose to prospective buyers certain defects with their home that could impair its value.

The Kentucky Revised Statutes § 324.360 states that sellers are obliged to make certain property disclosure to the buyer prior to the sale. It's a four-page form that has series of questions that can be responded with ?N/A?, ?Yes?, ?No?, and ?Unknown?, and provide an explanation to add details about the defects.