What Should be Disclosed when Completing the Seller's Disclosure Form?

The seller has no duty to make a disclosure or release information relating to whether a death by natural causes, suicide, or accident unrelated to the condition of the home occurred on the property.  Also, there is no duty to reveal whether a previous occupant had, may have had, has, or may have AIDS, HIV related illnesses, or HIV infection.  Otherwise, anything that is material to the property should be disclosed.

If a contract is entered without the seller providing the required disclosure, the buyer may terminate the contract for any reason within seven days after receiving the notice.  Therefore, the notice should be delivered to the buyer on or before the effective date of the contract.  All sellers are required to provide the buyer with the disclosure unless they fall under the following exceptions:  executors of estates,  foreclosures,  new home builders, trustee in a bankruptcy, beneficiary of a deed of trust by a trustor or successor in interest,  one co-owner to one or more co-owners,   transfer made to a spouse or a blood relative such as a parent or a child, divorcing spouse transferring title to the other spouse, transfers to or from any governmental entity and transfers where the value of  the dwelling does not exceed five percent (5%) of the value of the property.