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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 ...
The transfer disclosure statement requires only disclosure of known latent defects, though, while the natural hazard disclosure statement requires disclosure of whether the property is in a zone subject to earthquakes, floods, or other natural hazards as shown on government maps.
Furthermore, because homesumers can often times feel overwhelmed or unsure about completing the disclosure forms, the Disclosure Information Advisory was created to help walk them through details of the three most important disclosure forms including the Exempt Seller Disclosure (ESD), ( ...
What is a substituted disclosure? A substituted disclosure is a disclosure that is ?intended to satisfy the disclosure obligations on [the TDS form], where the subject matter is the same.?
A California property disclosure statement, also referred to as a (TDS), is a document used during a real estate transaction to inform buyers of the true condition of the property being sold by an owner (seller).
Generally, a seller's disclosure is a standard form containing material defects and features of the property for sale; it's one of the many documents that you need to collect and complete before selling your home.
Seller Disclosure Requirements & Transfer Statements In California, sellers are required to disclose any known issues that happened on the property. That is not limited to building issues; it also includes catastrophic events on the property like a natural death or murder.
Disclosures are designed to inform and protect the parties entering into an agreement. In this case, the Buyer Inspection Advisory is for the buyer. Let's discuss why the BIA is important, what items are on the Advisory to inspect, and what to do when your client chooses NOT to perform an inspection.