Asked by ronak hindocha on Jun 03, 2024
Verified
Many jurisdictions now require all sellers to disclose hidden defects that materially affect the property's value if reasonable examination would not reveal such defects.
Hidden Defects
Flaws or imperfections in a product or property that are not readily observable and may not be known until after a transaction has occurred.
Jurisdictions
The official power to make legal decisions and judgments, often within a specific geographic area or over a certain type of case.
- Identify the regulatory structures impacting real estate, such as zoning, amendments to the Truth in Lending Act, and disclosure obligations.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
True
Explanation :
This is because hidden defects can significantly impact the value and safety of a property, and sellers are often legally obligated to disclose any known issues that could not be discovered through a normal inspection process.
Learning Objectives
- Identify the regulatory structures impacting real estate, such as zoning, amendments to the Truth in Lending Act, and disclosure obligations.
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