Get the free Residential Real Property Transfer Disclosure Statement

This document is a disclosure statement prepared in compliance with Alaska Statute (AS) 34.70.010 - 34.70.200, which requires the Seller to deliver a completed written disclosure form to the Buyer

How to fill out residential real property transfer

How to fill out Residential Real Property Transfer Disclosure Statement

1. Begin with the title of the form: Residential Real Property Transfer Disclosure Statement.
2. Fill in the property address, including the city and state.
3. Provide the names of the parties involved in the transaction (seller and buyer).
4. Complete Section A by indicating the type of property (single-family residence, condo, etc.).
5. In Section B, answer questions related to the condition of the property, including structural issues, plumbing, and electrical systems.
6. Proceed to Section C, where you must disclose any environmental hazards or other significant conditions.
7. Section D requires disclosure of any known zoning issues or neighborhood nuisances.
8. Review the statement for completeness and accuracy, ensuring all points are addressed.
9. Have both the seller and buyer sign and date the document.

Who needs Residential Real Property Transfer Disclosure Statement?

1. The Residential Real Property Transfer Disclosure Statement is required by law for sellers of residential real estate in many jurisdictions to inform potential buyers about the condition of the property.
2. Home buyers benefit from this statement as it provides vital information about the property's condition, helping them make informed decisions.

People Also Ask about

What should a disclosure statement include?

A disclosure statement is a financial document given to a participant in a transaction explaining key information in plain language. Disclosure statements for retirement plans must clearly spell out who contributes to the plan, contribution limits, penalties, and tax status.

Is a property disclosure statement required in NY?

General Instructions: The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy of thereof to be delivered to a buyer or buyer's agent prior to the signing by the buyer of a binding contract of sale.

Which of the following must be disclosed in the ?

Expert-Verified⬈(opens in a new tab) In California, sellers must disclose various issues on the , including structural defects, the presence of hazardous materials, property damage history, and neighborhood nuisances.

What is the new property disclosure law in NY?

Effective as of March 20, 2024, New York's Property Condition Disclosure Act (the “PCDA”), in effect since 2002, no longer permits a seller of residential real estate to opt out of delivering a Property Condition Disclosure Statement (the “Statement”) by giving the Purchaser a $500 closing credit.

What is included in the ?

The TDS form covers a broad range of topics, from structural information about your home such as a leaky roof to whether any deaths occurred on the property in the last three years.

Who is exempt from providing a transfer disclosure statement?

Transfers Between Related Parties Family transactions are frequently exempt, including: Transfers between co-owners. Sales or gifts to spouses or direct family members (e.g., parent to child). Transfers resulting from divorce settlements or property divisions.

Which of the following requires the ?

The TDS is required in the sale of one to four residential units as well as transfers by exchange, installment land sale contract, lease with an option to purchase, option to purchase, or ground lease coupled with improvements.

What is included in the ?

The TDS form covers a broad range of topics, from structural information about your home such as a leaky roof to whether any deaths occurred on the property in the last three years.

Which one of the following is false regarding the transfer disclosure statement?

The false statement is: c. "Sellers of residential property marketed 'as is' are not required to provide a (RETDS) to the buyer."

Is New York a mandatory disclosure state?

In New York, real estate sales are governed by specific laws that require sellers to provide potential buyers with detailed disclosures about any particular property. These requirements are designed to ensure transparency, allowing buyers to understand a property's condition before making a purchase.

For pdfFiller’s FAQs

What is Residential Real Property Transfer Disclosure Statement?

The Residential Real Property Transfer Disclosure Statement is a legal document required in real estate transactions that provides information about the condition of a residential property being sold.

Who is required to file Residential Real Property Transfer Disclosure Statement?

Sellers of residential real property in California are required to file the Residential Real Property Transfer Disclosure Statement.

How to fill out Residential Real Property Transfer Disclosure Statement?

To fill out the Residential Real Property Transfer Disclosure Statement, the seller must disclose any known material defects, the condition of various aspects of the property, and answer specific questions about the property's history and status.

What is the purpose of Residential Real Property Transfer Disclosure Statement?

The purpose of the Residential Real Property Transfer Disclosure Statement is to inform potential buyers about the property's condition, helping them make informed decisions and avoid future disputes.

What information must be reported on Residential Real Property Transfer Disclosure Statement?

The Residential Real Property Transfer Disclosure Statement must report information on the property's physical condition, including any known defects, repairs, environmental hazards, legal issues, and significant changes from when the seller acquired the property.