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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 Oregon, a property disclosure statement is a legal requirement during the process of selling real estate. The seller must provide this document to a prospective buyer, which details the condition of the property, including any material or significant defects or problems. Oregon law requires sellers to disclose a wide range of information, such as the condition of the property's structure, systems (electrical, heating, plumbing), the presence of hazardous materials (like asbestos or radon), and any other known issues that could affect the property's value or desirability. The disclosure statement must be given to the buyer before an offer is made. If a seller knowingly withholds information about defects or problems, they could be held liable for fraud, misrepresentation, or breach of contract. It's important for sellers to be honest and thorough in completing the disclosure statement to avoid potential legal issues.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Oregon State Code

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Real property

property disclosure statement

Oregon State Code