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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 Idaho, a property disclosure statement is a requirement during the process of selling real estate. Idaho Code § 55-2508 mandates that the seller of residential real property must provide the buyer with a Property Condition Disclosure Form. This form requires the seller to disclose any known material or significant defects in the property. The disclosure must include details about various aspects of the property, such as the condition of the electrical system, plumbing, heating, and cooling systems, as well as any structural issues, environmental hazards, or other material defects. The seller must complete the disclosure to the best of their knowledge and belief, and it is intended to provide the buyer with important information about the condition of the property before the sale is finalized. If a seller knowingly withholds information about defects or problems, they could be held liable for fraud or misrepresentation. However, Idaho law does not require the seller to conduct any specific inspections to discover defects; the obligation is to disclose known issues.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Idaho State Code

Idaho State Code

Real property

property disclosure statement

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