This oil, gas, and minerals document is a report form documenting information of sellers and purchasers that enter into a legally binding obligation to sell and purchase real property at the expiration of or during a lease term. In a lease purchase agreement, a party agrees to purchase a particular piece of real property within a certain timeframe, usually at a price determined beforehand.
Connecticut Lease Purchase Report
Category:
State:
Multi-State
Control #:
US-OG-641
Format:
Word;
Rich Text
Instant download
Description
How to fill out Lease Purchase Report?
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FAQ
A seller has no legal obligation to remove asbestos from the house he is selling. He is generally not even required by state law to disclose that asbestos is present in the home. The home buyer can and should inspect the home prior to buying it.
Rent-to-own contracts must be in writing and include a brief description of the rented property, sufficient to identify the property to the consumer and to the business.
If you're selling your home in the Nutmeg State, you'll need to be mindful of Connecticut's disclosure requirements. Sellers of residential property are required by state law to disclose certain defects with their home that could impair its value. These disclosures must be made before any purchase contract is signed.
The Uniform Property Condition Disclosure Act (Connecticut General Statutes Section 20-327b) requires the seller of residential property to provide this disclosure to the prospective purchaser prior to the prospective purchaser's execution of any binder, contract to purchase, option or lease containing a purchase ...
In total, the form includes about 40 questions giving sellers the chance to disclose information on a range of issues, including not limited to: General information (how long the seller has owned the house and when it was built) Land use restrictions. Past or present litigation associated with the property.
The Public Use and Benefit Land Registry (Land Registry) pilot portal allows users to browse state lands, determine property ownership, and research, view, and download copies of parcel information, including deeds, surveys, and land management plans.
CT Property Condition Disclosure Exemptions The property is being transferred to a spouse, parent, grandparent, child, or sibling of the transferor without consideration of payment. The federal government, a political corporation, institution, or quasi-government agent is making the property transfer.
(b) The following shall be exempt from the provisions of this section: (1) Any transfer from one or more co-owners solely to one or more of the co-owners; (2) transfers made to the spouse, mother, father, brother, sister, child, grandparent or grandchild of the transferor where no consideration is paid; (3) transfers ...
