When doesn't the Seller's Disclosure Act Apply?

The Act does not apply to:

  • Transfers pursuant to a court order
  • Transfers to a mortgagee by a mortgagor or successor in interest who is in default
  • Transfers as a result of a foreclosure proceeding
  • Transfer's by fiduciaries who do not occupy the property (personal representatives, guardians, and conservators.)
  • Transfers between co-tenants
  • Transfers to a spouse, parent, grandparent, child, or grandchild
  • Transfers between spouse as the result of a judgment of divorce
  • Transfers or exchanges from any governmental entity (tax sale properties)
  • Transfers of newly constructed homes by licensed contractors

When does the Seller's Disclosure Act Apply?

The Seller's Disclosure Act (the "Act") applies to all transfers of interest in residential real property, including multi-unit residential properties of up to 4 units, including:

  • Sales
  • Exchanges
  • Land contract
  • Leases with option to purchase
  • Transfers of stock in a residential cooperative
  • Ground leases coupled with proposed improvements by purchaser
  • All other purchase options
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