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Real property

property disclosure statement

A property disclosure statement is a written document provided by a seller of real property to the prospective buyer stating that the property has a material or significant problem or defect and disclosing the nature of the problem or defect—or stating the seller is unaware of any such problems or defects.

In Alaska, a property disclosure statement is a mandatory document that sellers of residential real property must provide to prospective buyers. This document is governed by Alaska Statutes Section 34.70.010 - 34.70.200, also known as the Alaska Residential Real Property Transfer Disclosure Act. The disclosure statement requires sellers to reveal any known material defects or problems with the property, which could affect the property's value or desirability. The disclosure covers various aspects of the property, including the condition of the structure, electrical, plumbing, heating, and other systems, as well as any environmental hazards or zoning violations. If a seller is unaware of defects, they must state this in the disclosure. Failure to provide a complete and accurate disclosure can lead to legal consequences for the seller, including potential rescission of the sale or damages.

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Real property

property disclosure statement

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Alaska State Code

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Real property

property disclosure statement

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