This page is excerpted
from the State of California Department of Real Estate's booklet
on Seller Disclosure. Please read the entire text at: Disclosures
in Real Property Transactions.
Disclosures Required of a Seller
While these disclosures relate mainly to residential property
resales, some may also be applicable to the initial sale of subdivided
interests. Remember that sellers and real estate agents must make
the disclosures necessary to avoid fraud, misrepresentation or
deceit.
A. Disclosures
Upon Transfer of Residential Property
Subject to the exemptions listed below, these requirements apply
when real property of 1 to 4 dwelling units is transferred by
sale, exchange, installment land sale contract, ground lease coupled
with improvements, lease with an option to purchase, or any other
option to purchase.
In this discussion, the term “seller” means the transferor,
the term “buyer” or “purchaser” means
the transferee, and the term “transaction” includes
the sale or transfer of the property.
These requirements also pertain to the resale of a manufactured
home (as defined in Section 18007 of the Health and Safety Code)
or a mobilehome (as defined in Section 18008 of the Health and
Safety Code) even if classified as personal property, provided
that the manufactured or mobilehome is located on real property
and is intended for use as a residence.
The following transfers are exempt from these disclosure requirements:
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The sale of new homes
as part of a subdivision project where a public report must
be delivered to the purchaser or a public report is not required.
However, when such new homes are sold through a real estate
broker, the broker owes the buyer a duty to disclose any material
facts which affect the value, desirability and intended use
of the property |
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Foreclosure sales |
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Court ordered transfers |
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Transfers by a fiduciary in the
administration of a decedent’s estate, a guardianship,
conservatorship, or trust except where the trustee is a former
owner of the property |
|
Transfers to a spouse or to a
person or persons in the lineal line of consanguinity |
|
Transfers resulting from a judgment
of dissolution of marriage, or of legal separation, or from
a property settlement agreement incidental to such a judgment |
|
Transfers from one co-owner to
another |
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Transfers by the State Controller
for unclaimed property |
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Transfers resulting from failure
to pay taxes |
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Transfers to or from any governmental
entity |
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| 1.
|
Termination
Right |
| 2. |
Real
Estate Transfer Disclosure Statement |
| 3. |
Local
Option Real Estate Transfer Disclosure Statement |
| 4. |
Natural
Hazards Disclosure |
| |
 |
Zone
A or Zone V (special flood hazard area) |
| |
|
An area of
potential flooding |
| |
|
A designated
very high fire hazard severity zone |
| |
|
A designated
wildland area (state responsibility area) |
| |
|
An earthquake
fault zone |
| |
|
A seismic
hazard zone |
| 5. |
Mello-Roos
Bonds and Taxes |
| 6. |
Property
Taxes |
| 7. |
Ordnance
Locations |
| 8. |
Window
Security Bars |
| 9. |
Industrial
Uses |
| 10. |
Methamphetamine
Contamination |
B.
Earthquake Guides
C. Smoke
Detector Statement of Compliance
D. Disclosure
Regarding Lead-Based Paint Hazards
E. California’s
Environmental Hazards Pamphlet
F. Delivery
of Structural Pest Control Inspection and Certification Reports
G. Energy
Conservation Retrofit and Thermal Insulation Disclosures
H. Foreign
Investment in Real Property Tax Act
I. Notice
and Disclosure to Buyer of State Withholding on Disposition of
California Real Property.
J. Furnishing
Controlling Documents and Financial Statements Concerning Common
Interest Developments (CID’s)
K. Notice
Regarding the Advisability of Title Insurance
L. Certification
Regarding Water Heater’s Security Against Earthquake
M. Data
Base – Locations of Registered Sex Offenders
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