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CIV. §1102.3) 2. . The (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.
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.
What must be disclosed? Under California law, all material facts that affect the value or desirability of the property must be disclosed to the buyer. There is no specific definition or rule on what is considered to be a material fact.
A seller is required to provide the TDS even when selling property without an agent, such as in a for sale by owner transaction. The TDS also must be provided for sales of a new residential property that is not part of a subdivision, such as a new home or a new four-unit building being built on a lot.
RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS. Page 1. RESIDENTIAL INCOME PROPERTY PURCHASE. Date: (C.A.R. Form RIPA, Revised 4/10)
The (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.
C.A.R. standard forms are for your individual use in your real estate transactions only. C.A.R. standard forms are protected by U.S. copyright laws which expressly forbid the unauthorized reproduction, display, or other use of any portion of copyrighted material by any means, including electronic formats.
California Real Estate Disclosure Requirements In California, sellers must provide a Transfer Disclosure Statement (TDS) to any potential buyer whose offer has been accepted. This form asks specific questions about defects or malfunctions the seller may be aware of.