Question

Keith is selling his condominium. Which of these statements about his disclosure responsibilities is FALSE?

a) Keith must disclose if there are any common area facilities that are co-owned with other residents.
b) Keith must disclose that the property was originally subdivided.
c) Keith must disclose the amount of any impending special assessments.
d) Keith must disclose whether the property is subject to any association.

Answer 1

The false statement about Keith's disclosure responsibilities is that he must disclose if the property was originally subdivided. Disclosures usually involve current conditions affecting value or desirability, not the historical fact of subdivision unless it impacts the present status.

Step-by-step explanation:

Among the statements about Keith's disclosure responsibilities when selling his condominium, the false statement is (b) Keith must disclose that the property was originally subdivided.

When selling a property, sellers are typically required to disclose information that affects the value or desirability of the property. This includes revealing any co-owned common area facilities, any impending special assessments, and whether the property is subject to any homeowner's association (HOA) or similar entities.

However, the fact that the property was originally subdivided is typically not a disclosure requirement unless it directly affects the current condition or title of the property. It's important for sellers to comply with their state's specific disclosure regulations to avoid any legal issues during or after the sale.