Residential Property Disclosure Form For Ohio In Bexar
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FAQ
Who Qualifies for Disclosure Exemptions? Trustees and Fiduciaries. Court-Ordered Sales. Foreclosure and Deed in Lieu of Foreclosure. Transfers Between Related Parties. Government-Related Transactions. Non-Residential or Lease Transfers.
Section 5302.30 | Property disclosure form required for all residential real property transfers.
Purpose of Disclosure Form: This is a statement of certain conditions and information concerning the property actually known by the owner.
In most states, by law, you have to disclose any issues with the property. By not disclosing, you open yourself up to lawsuit.
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.
Almost every U.S. state has passed laws mandating that sellers give buyers specific information about what structural and other features the house contains, and their condition. In some cases, the brokers must speak up about hidden conditions, too.