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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 Hawaii, a property disclosure statement is a mandatory document that sellers of residential real property must provide to prospective buyers. This document is governed by Hawaii Revised Statutes Section 508D, which requires the seller to disclose any material facts that would have a significant impact on the value of the property or the buyer's decision to purchase it. Material facts can include a wide range of issues, such as structural defects, pest infestations, or issues with title. The disclosure must be made in writing and provided to the buyer before the completion of the real estate transaction. If a seller knowingly fails to disclose a material fact, or misrepresents the condition of the property, they could be held liable for damages. It's important for sellers to be thorough and honest in their disclosures to avoid potential legal disputes.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Hawaii State Code

Hawaii State Code

Real property

property disclosure statement

Articles