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1. What is a Sellers Property Disclosure Statement?
Answer -
This is a disclosure form to be filled out by a seller at the time a property is listed for sale. The form includes general information
about the property being sold. Items discussed include; general property condition, statements about the roof, basement, private sewer, well, mechanical systems
appliances, and environmental concerns. A new Minnesota law went into effect January 1, 2003 making disclosure of all known property defects mandatory. See Statutes Index of 513.52 through 513.60.These are the statutes covering
the disclosure requirement.
Back to the Disclosures FAQ's
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