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The TDS is required in the sale of one to four residential units as well as transfers by exchange, installment land sale contract, lease with an option to purchase, option to purchase, or ground lease coupled with improvements.
Louisiana Laws - Louisiana State Legislature. Section 4. (A) Every person has the right to acquire, own, control, use, enjoy, protect, and dispose of private property. This right is subject to reasonable statutory restrictions and the reasonable exercise of the police power.
The most commonly used form for such disclosures is the Transfer Disclosure Statement that the sellers will complete and sign.
Louisiana Revised Statutes § 98 governs disclosures by sellers like yourself. It states that you must complete a property disclosure document in a form prescribed by the Louisiana Real Estate Commission and deliver it to prospective buyers.
What should I know about mold when buying a home or property in Louisiana? ing to the Louisiana Real Estate License Law and the Rules and Regulations of the Louisiana Real Estate Commission, real estate agents must disclose any known ?large? defects or future defects in the property.