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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 California, a property disclosure statement is a critical component of real estate transactions. State law requires sellers to disclose, in writing, any known material or significant defects or problems with the property. This is typically done through a Transfer Disclosure Statement (TDS), which must be provided to a prospective buyer before the sale is completed. The TDS includes information about the property's condition, including any known issues with the structure, systems, and other relevant aspects of the property. Additionally, sellers must complete and provide a Natural Hazard Disclosure Statement if the property is located in an area that is subject to natural hazards such as floods, wildfires, or earthquakes. Failure to disclose known defects can lead to legal liability for the seller, including potential rescission of the sale or monetary damages.

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Real property

property disclosure statement

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Real property

property disclosure statement

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