KY KREC Form 402 2019 free printable template
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KENTUCKY REAL ESTATE COMMISSION
656 Chamberlin Avenue, Suite B
Frankfort, Kentucky 40601
(502) 5647760
http://krec.ky.govSELLERS DISCLOSURE OF PROPERTY CONDITION
This form applies to residential real
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How to fill out KY KREC Form 402
How to fill out KY KREC Form 402
01
Obtain the KY KREC Form 402 from the Kentucky Real Estate Commission website or your local real estate office.
02
Fill in your personal information, including your name, address, phone number, and email.
03
Indicate the type of application you are submitting (e.g., new application, renewal).
04
Provide the details of your real estate education, including course names, dates attended, and institutions.
05
Complete the disclosure section, answering any questions regarding criminal history or past disciplinary actions.
06
Review the application for completeness and accuracy to avoid delays.
07
Sign and date the form.
08
Pay the required application fee, if applicable, and submit the form to the Kentucky Real Estate Commission either by mail or online.
Who needs KY KREC Form 402?
01
Individuals applying for a real estate license in Kentucky.
02
Real estate agents seeking to renew their licenses.
03
Those changing their personal details or brokerage information associated with their license.
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People Also Ask about
What is included in the transfer disclosure statement?
The TDS form covers items on the subject property that the seller is aware of, and therefore has actual knowledge of, anywhere from a leaky roof to whether any deaths occurred on the property in the last three years.
What is a local option ?
Local Option , which provides specific information about the neighborhood or community in which the property is located. Notice Regarding the Advisability of Title Insurance, in which both buyer and seller acknowledge a transaction in which no title insurance is to be issued.
What is a seller disclosure form Florida?
A Florida property disclosure statement is a form provided to a home buyer that reveals the seller's knowledge of material damage affecting the value and desirability of the property. The form identifies defects with the home itself and any legal issues or restrictions the property is subject to.
What does a home seller have to disclose in Florida?
A seller must disclose any facts or conditions they know about that materially affect the value of the property. This means that they have to tell a buyer about any issue that would reduce the value of the property or make the property less desirable. Problems with the title to the home or property.
What do you have to disclose when selling a house in KY?
You need only disclose defects or conditions about which you actually know, based on your observations and having lived in the property.
What is a sellers disclosure in Florida?
In Florida a seller of residential property is obligated to disclose to a buyer all facts known to a seller that materially and adversely affect the value of the Property being sold which are not readily observable by a buyer.
What has to be disclosed when selling a house in Kentucky?
You need only disclose defects or conditions about which you actually know, based on your observations and having lived in the property.
Which of these Kentucky properties requires a seller to complete the seller's disclosure of property conditions form?
The Seller Disclosure of Property Condition applies to all sales and purchases of residential real estate in Kentucky, except for in the case of a court supervised foreclosure, a sale of real estate at auction or residential purchases of new homes if a warranty is offered.
What is the purpose of a transfer disclosure statement?
The (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.
What type of transaction requires the transfer disclosure statement?
When is the TDS required? The TDS law applies to transfers (including options and lease options) of real property (or a residential stock cooperative) improved with four or fewer dwelling units. It also applies to resale of personal property manufactured homes and mobile homes intended to be used as a residence.
Is a seller's disclosure form required in Florida?
While a seller's property disclosure form is not required under Florida law, Florida law does require seller's and their realtors to disclose any significant property defects that may not be easily visible to the buyer. Buyers still have the responsibility to have the property inspected.
Is a seller's disclosure required in Kentucky?
In Kentucky, certain sellers of real estate are required to complete a Seller Disclosure of Property Condition form and to provide that form to potential buyers. The form is required by law through Kentucky Revised Statutes 324.360, and it can be found online through the Kentucky Real Estate Commission's website.
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What is KY KREC Form 402?
KY KREC Form 402 is a form used by real estate licensees in Kentucky to report certain transactions and activities related to their practice.
Who is required to file KY KREC Form 402?
Real estate licensees in Kentucky who engage in certain transactions or activities that require reporting are required to file KY KREC Form 402.
How to fill out KY KREC Form 402?
To fill out KY KREC Form 402, licensees should provide accurate information regarding their transactions, including details such as the property address, parties involved, and nature of the transaction, following the form's instructions.
What is the purpose of KY KREC Form 402?
The purpose of KY KREC Form 402 is to ensure compliance with state regulations by collecting information about real estate transactions for monitoring and regulatory purposes.
What information must be reported on KY KREC Form 402?
KY KREC Form 402 requires reporting information such as the names of the parties involved in the transaction, property details, transaction type, and dates relevant to the activity.
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