This form is a Seller's Disclosure Statement. This disclosure statement concerns the condition of property described in the document. The seller acknowledges that the information contained in the form is true and accurate.
Kentucky Seller's Real Estate Disclosure Statement
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How to fill out Seller's Real Estate Disclosure Statement?
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The public has demanded this increased level of information. But, there are 12 states that are still considered non-disclosure: Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming.
Kentucky law requires sellers of residential property to complete a property condition disclosure form. The Kentucky statute states that the disclosure form does not create a warranty by the seller.
Here are eight common real estate seller disclosures to be aware of, whether you're on the buyer's side or the seller's side.Death in the Home.Neighborhood Nuisances.Hazards.Homeowners' Association Information.Repairs.Water Damage.Missing Items.Other Possible Disclosures.
Kentucky law requires sellers of residential property to complete a property condition disclosure form. The Kentucky statute states that the disclosure form does not create a warranty by the seller.
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.
Sellers of residential property are required by state law to disclose to prospective buyers certain defects with their home that could impair its value. These disclosures must be made in writing before any purchase contract is signed.
The licensee is the seller. -- The only time a licensee should fill out the Seller's Property Condition Disclosure or disclaimer forms is when he/she owns the property. You just studied 25 terms!