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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 West Virginia, a property disclosure statement is a document that a seller of real property is typically required to provide to a prospective buyer. This statement discloses material or significant defects or problems with the property that the seller is aware of at the time of the sale. The purpose of this disclosure is to inform the buyer of any known issues that could affect the property's value or desirability. West Virginia Code §36-4-6 specifically requires the seller to disclose the condition of the property, including any material defects, in a disclosure statement. This requirement helps to ensure that the buyer is making an informed decision and to prevent future disputes over undisclosed defects. However, it is important to note that the seller's disclosure obligations may be subject to certain exceptions, and the specific requirements can vary depending on the circumstances of the sale. Buyers are also encouraged to conduct their own due diligence, such as obtaining a professional home inspection, to uncover any potential issues with the property.

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Real property

property disclosure statement

Individual & Family Legal Plan

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West-Virginia State Code

West-Virginia State Code

Real property

property disclosure statement

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