The Residential Property Disclosure Act provides that: a. An owner who sells a residential property without...
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The Residential Property Disclosure Act provides that: a. An owner who sells a residential property without using the services of a real estate agent is exempt from the act when selling the property. b. In a transaction subject to the act, a buyer who does not receive a completed Residential Property Disclosure Statement within the time prescribed by the act has a limited three-day right to cancel the sales contract. c. The seller of a property subject to the act must discover and disclose to prospective buyers all property defects about which the seller should reasonably have known. d. A real estate relocation company temporarily holding title to a house is exempt from the act when selling the house. The Residential Property Disclosure Act provides that: a. An owner who sells a residential property without using the services of a real estate agent is exempt from the act when selling the property. b. In a transaction subject to the act, a buyer who does not receive a completed Residential Property Disclosure Statement within the time prescribed by the act has a limited three-day right to cancel the sales contract. c. The seller of a property subject to the act must discover and disclose to prospective buyers all property defects about which the seller should reasonably have known. d. A real estate relocation company temporarily holding title to a house is exempt from the act when selling the house.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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