New Hampshire Commercial Real Estate Sales Disclosure Statement
Description
How to fill out New Hampshire Commercial Real Estate Sales Disclosure Statement?
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FAQ
Whenever you sell real estate, you are obligated to follow local mandatory disclosure laws. This involves informing the buyer about specific hazards or problems affecting the property before the sale is completed.
Other exemptions from of the TDS include transfers from one co-owner to another, transfers made to a spouse or child, grandchild, parent, grandparent or other direct ancestor or descendent; transfers between spouses in connection with dissolution of marriage, and various transfers to the state for failure to pay
If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.
The Real Estate Transfer Disclosure Statement (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.
If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.
It includes the name of the organization, the party of the loans, approval, date, and place at which the document was signed, key terms such as tenure of the loan, interest charged, annual percentage rate, total processing fees, loan statement, prepayment terms, and various other information including the terms
While a TDS is not mandated for commercial property sales, commercial buyers are still protected by common law disclosure requirements.
Which seller is exempt from completing a transfer disclosure statement? A lender selling a property which they previously foreclosed upon.
What are the exemptions to the law requiring a seller to provide a TDS?Transfers pursuant to court order (such as court-ordered probate sales, sales by a bankruptcy trustee, writ of execution, eminent domain, and transfer resulting from a decree for specific performance).