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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 Nebraska, a property disclosure statement is a legal document that a seller of real property is typically required to provide to a prospective buyer. The purpose of this document is to disclose any known material or significant defects with the property. Nebraska law, specifically the Nebraska Revised Statute 76-2,120, mandates that sellers of residential real property comprising up to four dwelling units must complete a written disclosure statement regarding the condition of the property. This includes information about the structural elements, mechanical systems, and other relevant aspects of the property. The seller must disclose any known problems or defects, and the disclosure must be made in good faith. If a seller knowingly withholds information about defects, they could be held liable for fraud. It is important for buyers to review this statement carefully, as it provides crucial information about the condition of the property they are considering purchasing. However, the law does not require the seller to make any specific inspections or warranties, and the disclosure is based on the seller's actual knowledge at the time of the statement.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Nebraska State Code

Nebraska State Code

Real property

property disclosure statement

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