(a) Every owner of real property subject to a transfer of the type governed by Chapter 47E of the General Statutes shall complete the following Residential Property and Owners' Association Disclosure Statement and furnish a copy of the complete statement to a buyer in accordance with the requirements of G.S. 47E-4. The form shall bear the seal of the North Carolina Real Estate Commission and shall read as follows: Show
[N.C. REAL ESTATE COMMISSION SEAL] STATE OF NORTH CAROLINA RESIDENTIAL PROPERTY AND OWNERS' Association DISCLOSURE STATEMENT Instructions to Property Owners 1. The Residential Property Disclosure Act (G.S. 47E)("Disclosure Act") requires owners of residential real estate (single-family homes, individual condominiums, townhouses, and the like, and buildings with up to four dwelling units) to furnish buyers a Residential Property and Owners' Association Disclosure Statement ("Disclosure Statement"). This form is the only one approved for this purpose. A disclosure statement must be furnished in connection with the sale, exchange, option, and sale under a lease with option to purchase where the tenant does not occupy or intend to occupy the dwelling. A disclosure statement is not required for some transactions, including the first sale of a dwelling which has never been inhabited and transactions of residential property made pursuant to a lease with option to purchase where the lessee occupies or intends to occupy the dwelling. For a complete list of exemptions, see G.S. 47E-2. 2. You must respond to each of the questions on the following pages of this form by filling in the requested information or by placing a check ([RIGHT]) in the appropriate box. In responding to questions, you are only obligated to disclose information about which you have actual knowledge. a. If you check "Yes" for any question, you must explain your answer and either describe any problem or attach a report from an attorney, engineer, contractor, pest control operator or other expert or public agency describing it. If you attach a report, you will not be liable for any inaccurate or incomplete information contained in it so long as you were not grossly negligent in obtaining or transmitting the information. b. If you check "No," you are stating that you have no actual knowledge of any problem. If you check "No" and you know there is a problem, you may be liable for making an intentional misstatement. c. If you check "No Representation," you are choosing not to disclose the conditions or characteristics of the property, even if you have actual knowledge of them or should have known of them. d. If you check "Yes" or "No" and something happens to the property to make your Disclosure Statement incorrect or inaccurate (for example, the roof begins to leak), you must promptly give the buyer a corrected Disclosure Statement or correct the problem. 3. If you are assisted in the sale of your property by a licensed real estate broker, you are still responsible for completing and delivering the Disclosure Statement to the buyers; and the broker must disclose any material facts about your property which he or she knows or reasonably should know, regardless of your responses on the Statement. 4. You must give the completed Disclosure Statement to the buyer no later than the time the buyer makes an offer to purchase your property. If you do not, the buyer can, under certain conditions, cancel any resulting contract (See "Note to Buyers" below). You should give the buyer a copy of the Disclosure Statement containing your signature and keep a copy signed by the buyer for your records. Note to Buyers If the owner does not give you a Residential Property and Owners' Association Disclosure Statement by the time you make your offer to purchase the property, you may under certain conditions cancel any resulting contract without penalty to you as the buyer. To cancel the contract, you must personally deliver or mail written notice of your decision to cancel to the owner or the owner's agent within three calendar days following your receipt of the Disclosure Statement, or three calendar days following the date of the contract, whichever occurs first. However, in no event does the Disclosure Act permit you to cancel a contract after settlement of the transaction or (in the case of a sale or exchange) after you have occupied the property, whichever occurs first. 5. In the space below, type or print in ink the address of the property (sufficient to identify it) and your name. Then sign and date. Property Address: _________________________________________________________________ Owner's Name(s): __________________________________________________________________ Owner(s) acknowledge(s) having examined this Disclosure Statement before signing and that all information is true and correct as of the date signed. Owner Signature:__________________________________________________ Date _________, __ Owner Signature:__________________________________________________ Date _________, __ Buyers acknowledge receipt of a copy of this Disclosure Statement; that they have examined it before signing; that they understand that this is not a warranty by owners or owners' agents; that it is not a substitute for any inspections they may wish to obtain; and that the representations are made by the owners and not the owners' agents or subagents. Buyers are strongly encouraged to obtain their own inspections from a licensed home inspector or other professional. As used herein, words in the plural include the singular, as appropriate. Buyer Signature:________________________________________________ Date ________, ____ Buyer Signature:________________________________________________ Date ________, ____ Property Address/Description:_____________________________________________________________ ______________________________________________________________________________________ The following questions address the characteristics and condition of the property identified above about which the owner has actual knowledge. Where the question refers to "dwelling," it is intended to refer to the dwelling unit, or units if more than one, to be conveyed with the property. The term "dwelling unit" refers to any structure intended for human habitation.
If you answered "yes" to any of the questions listed above (1-31) please explain (attach additional sheets if necessary): ______________________________________________________________________________________ ______________________________________________________________________________________ ______________________________________________________________________________________ In lieu of providing a written explanation, you may attach a written report to this Disclosure Statement by a public agency, or by an attorney, engineer, land surveyor, geologist, pest control operator, contractor, home inspector, or other expert, dealing with matters within the scope of that public agency's functions or the expert's license or expertise. The following questions pertain to the property identified above, including the lot to be conveyed and any dwelling unit(s), sheds, detached garages, or other buildings located thereon.
* If you answered "Yes" to question 33 above, you must complete the remainder of this Disclosure Statement. If you answered "No" or "No Representation" to question 33 above, you do not need to answer the remaining questions on this Disclosure Statement. Skip to the bottom of the last page and initial and date the page.
Buyer Initials and Date ________________________ Owner Initials and Date _____________________ Buyer Initials and Date ______________________ Owner Initials and Date _____________________ (b) The form described in Paragraph (a) of this Rule may be reproduced, but the text of the form shall not be altered or amended in any way. (c) The form described in Paragraph (a) of this Rule as amended effective July 1, 2021, applies to all properties placed on the market on or after July 1, 2021. The form described in Paragraph (a) of this Rule as amended effective July 1, 2018, applies to all properties placed on the market prior to July 1, 2021. If a corrected disclosure statement required by G.S. 47E-7 is prepared on or after July 1, 2021, for a property placed on the market prior to July 1, 2021, the form described in Paragraph (a) of this Rule as amended effective July 1, 2021, shall be used. Notes21 N.C. Admin. Code 58A .0114 Authority G.S. 47E-4(b); 93A-3(c); 93A-6; State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare. No prior version found. Under what conditions is the residential property and owners association disclosure statement form not required in North Carolina?A disclosure statement is not required for some transactions, including the first sale of a dwelling which has never been inhabited and transactions of residential property made pursuant to a lease with option to purchase where the lessee occupies or intends to occupy the dwelling.
Which of these transfers of residential real property are exempt from the Illinois property Disclosure Act?Exceptions to Disclosure Laws
There are exceptions within the Illinois Residential Real Property Disclosure Act where the transfer of property does not require any disclosure be made. These include when the property is being transferred as part of a divorce settlement, foreclosure, or bankruptcy.
Who is exempt from seller disclosure in California?The Transfer Disclosure Statement (TDS) is required in the state of California unless the seller (or transferor) meets one of the following conditions: Court-ordered sales such as probate sales, foreclosure sales, sale by bankruptcy trustee, eminent domain.
Which real estate transfers is exempt from the requirements to provide the seller's disclosure of real property condition report in Delaware?Transfers made by court order, default, divorce, and by government entities are exempt from the disclosure requirement. Sellers with exempt property should fill out an exemption certificate provided by the Delaware real estate commission.
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