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Chapter 4: Disclosure Obligations
Terms in this set (13)
Any residential dwelling in which the living area is not separated from the sleeping area.
Something that significantly and adversely affects the value of the property; significantly reduces the structural integrity of improvements to real estate; presents a health risk to occupants of the property; or information that indicates that a party to a transaction is not able to or does not intend to meet the obligations under a contract made concerning a transaction.
A mineral fiber which has been used in a variety of ways within the home, but generally as an insulator around plumbing. Asbestos can be friable or non-friable, and may be hazardous to health.
A property defect which is known by the seller and is not discoverable by an ordinary inspection of the property by an agent or the buyer.
An illness caused by a toxic mineral which may be found in the home in paint or water pipes.
Lead-Based Paint Hazard
Any condition that causes exposure from lead-contaminated dust, soil or paint that is deteriorated or present on accessible, friction, or impact surfaces that would result in adverse human health effects.
Any statement of fact by one person to another, either by words or actions, which is not in accordance with the actual facts.
Any various fungous growths often causing disintegration of organic matter.
The common practice of exaggerating a property's benefits in advertising.
An odorless radioactive gas which may enter a home through cracks in the foundation or drains in the floor.
Real Estate Condition Report
A report used by the seller to disclose to the buyer any known defects or conditions affecting the property.
A property defect which is more psychological than material.
Underground Storage Tank
Tanks used in the storage of fuel or heating oil for noncommercial purposes or consumptive use.
THIS SET IS OFTEN IN FOLDERS WITH...
Chapter 1: Agency Relationships
Chapter 2: Agency Issues
Chapter 5: Fair Housing
Chapter 6: Valuation
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OTHER SETS BY THIS CREATOR
Chapter 10: Offers to Purchase Questions
Chapter 8: Title of Real Estate Questions
Chapter 9: Land Use Questions