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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 Maryland, a property disclosure statement is a required document in most residential real estate transactions. The seller must complete a Residential Property Disclosure and Disclaimer Statement, which discloses to the buyer the condition of the property, including any known material defects. Maryland law requires sellers to disclose specific information about the property's condition, such as issues with the plumbing, electrical system, appliances, roof, and any other known material defects. If the seller is unaware of any defects, they must state this in the disclosure. However, the seller may choose to sell the property 'as is' by providing a disclaimer statement instead, which means the seller does not warrant the condition of the property, and the buyer is purchasing it in the condition it is found. It is important for buyers to carefully review the disclosure or disclaimer statement and consider a home inspection for a more thorough assessment of the property's condition.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Maryland State Code

Real property

property disclosure statement

Maryland State Code

Articles