Maryland Residential Property Disclosure and Disclaimer Statement is a legal document that was released by the Maryland Department of Labor - a government authority operating within Maryland.
Q: What is the Maryland Residential Property Disclosure and Disclaimer Statement?
A: The Maryland Residential Property Disclosure and Disclaimer Statement is a document that sellers of residential properties in Maryland must provide to buyers.
Q: What does the disclosure statement include?
A: The disclosure statement includes information about the condition of the property, including any known defects or issues.
Q: Who is responsible for completing the disclosure statement?
A: The seller is responsible for completing the disclosure statement and providing it to the buyer.
Q: What happens if the seller fails to provide the disclosure statement?
A: If the seller fails to provide the disclosure statement, the buyer may have legal remedies available, such as the right to terminate the contract.
Q: Are there any exemptions to the disclosure requirement?
A: Yes, certain types of properties, such as newly constructed homes and properties sold in foreclosure, may be exempt from the disclosure requirement.
Q: Can the buyer rely solely on the disclosure statement?
A: No, the buyer is encouraged to conduct their own inspections and due diligence to assess the condition of the property.
Q: What should the buyer do if they discover undisclosed defects after purchasing the property?
A: If the buyer discovers undisclosed defects after purchasing the property, they may have legal recourse against the seller for compensation.
Form Details:
Download a printable version of the form by clicking the link below or browse more documents and templates provided by the Maryland Department of Labor.