Many jurisdictions now require all sellers of residential property to disclose hidden defects that materially affect the property's value if reasonable examination would not reveal such defects.

Question

Quizplus · Accepted Answer

This statement is true. Many jurisdictions, including several states in the US and provinces in Canada, have laws requiring sellers to disclose hidden defects that could materially affect the value or desirability of the property. These laws aim to protect buyers from purchasing a property with undisclosed issues that could end up costing them a significant amount of money down the line.

Many Jurisdictions Now Require All Sellers of Residential Property to Disclose