North Carolina Owner's Asbestos Disclosure Statement - Owner Acting as Asbestos Abatement Contractor

State:
Multi-State
Control #:
US-02139BG
Format:
Word; 
Rich Text
Instant download

Description

In this form, the owner of property containing asbestos has applied for a license to remove it himself. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

North Carolina requires brokers to disclose noises, odors, smoke, or other nuisances from commercial, industrial, or military sources that affect the property. Someone dying in a home does not need to be disclosed during a sale: including suicides, accidents, or violent crimes (yes, even if it was murder).

North Carolina requires brokers to disclose noises, odors, smoke, or other nuisances from commercial, industrial, or military sources that affect the property. Someone dying in a home does not need to be disclosed during a sale: including suicides, accidents, or violent crimes (yes, even if it was murder).

The PDS can give potential home buyers an insight into the condition of the property and anything that may negatively affect the home's value. The PDS allows the seller(s) to disclose details about their home to prospective purchasers.

When they lie, you have grounds for a lawsuit against the seller. Any kind of misrepresentation or even failure to disclose defects in the home can lead to financial compensation. Had the seller disclosed some defects, you might not have bought the home.

Dealing With Defects Legally As a last resort, a homeowner may file a lawsuit against the seller within a limited amount of time, known as a statute of limitations. Statutes of limitations are typically two to 10 years after closing.

Shall furnish to a purchaser a residential property disclosure statement. The disclosure. statement shall: (1) Disclose those items which are required to be disclosed relative to the. characteristics and condition of the property and of which the owner has.

The Residential Property Disclosure Act, codified as North Carolina G.S. 47E, requires the seller of residential real estate (one to four dwelling units) to complete a formknown formally as the Residential Property and Owners' Association Disclosure Statementdisclosing conditions and defects with the property.

Property disclosure statements inform buyers of existing defects to the home, and protect sellers from liability for issues they let buyers know about before the sale is finalized.

The Residential Property and Owners' Association Disclosure Statement is not required if the property has more than four units, or if the transaction is a lease with the option to buy and the tenant plans to occupy the property. It is also not required for new-construction homes that have never been occupied.

North Carolina requires brokers to disclose noises, odors, smoke, or other nuisances from commercial, industrial, or military sources that affect the property. Someone dying in a home does not need to be disclosed during a sale: including suicides, accidents, or violent crimes (yes, even if it was murder).

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North Carolina Owner's Asbestos Disclosure Statement - Owner Acting as Asbestos Abatement Contractor