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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 New Jersey, a property disclosure statement is a document that sellers of residential real estate are typically required to provide to potential buyers. This statement discloses known material defects or problems with the property. New Jersey law mandates that sellers must disclose any known, latent material defects that could not be discovered by the buyer through a reasonable and diligent inspection. The disclosure statement covers various aspects of the property, including structural, environmental, and mechanical conditions, as well as any other known issues that could affect the property's value or desirability. Failure to disclose such defects can lead to legal liability for the seller. It is important for sellers to be honest and thorough in completing the disclosure statement to avoid future disputes and for buyers to carefully review this information before proceeding with a real estate transaction.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Real property

property disclosure statement

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