Residential Property Disclosure Form For Ohio In Maryland
Description
Form popularity
FAQ
Section 10-702 of the Real Property Article, Annotated Code of Maryland, requires the seller of certain residential real property to furnish to the purchaser either (a) a RESIDENTIAL PROPERTY DISCLAIMER STATEMENT stating that the seller is selling the property "as is" and makes no representations or warranties as to ...
The following states are currently non-disclosure states: Alabama, Alaska, Idaho, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, New Mexico, North Dakota, Ohio, Oklahoma, South Dakota, Texas, Utah, and Wyoming.
Ohio's disclosure requirement comes from a law called Ohio Revised Code § 5302.30, which requires people selling residential property containing one to four dwelling units to fill out a Residential Property Disclosure Form.
Yes, Maryland law mandates that sellers of residential real estate complete a form known as the Residential Property Disclosure and Disclaimer Statement, as outlined in Md. Code § 10-702. This form requires sellers to disclose conditions and defects that could affect the property's value or desirability.
You cannot entirely sell a house without any form of disclosure in Maryland. Even if you opt for the "as is" disclaimer, you are still required to disclose latent defects that you are aware of. This ensures that the buyer is informed of critical issues that may not be apparent in a regular inspection.
Maryland is somewhat unique in that sellers can choose between either giving the buyer a disclosure of known defects or a disclaimer as to the condition of the house (but not both). In the latter case, you would be selling the property "as is," but must at least mention any known latent defects.
A minority of states require sellers to make certain disclosures when selling commercial real estate specifically. These states are California, Maine, Michigan, Minnesota, New Hampshire, Tennessee, Texas, and Washington.
In fact, an agent would need written permission from the seller to disclose the information to a buyer should they inquire. Do you have to report a death in your home while selling real estate in Maryland? Maryland does not require disclose of death on a property.
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.