Question

For disclosure purposes, a material fact effecting property value would include all but which of the following?

Option 1: Deed
Option 2: Will
Option 3: Contract
Option 4: Lease

Answer 1

A material fact that affects property value must be disclosed in real estate transactions. The options listed are deed, will, contract, and lease. The option that does not pertain to a material fact affecting property value is a will.

Step-by-step explanation:

A material fact that affects property value is important to disclose in real estate transactions. It refers to any information that may have an impact on the value of the property. The options given are:

1. Deed: A deed is a legal document that transfers ownership of a property from one party to another. It contains important information about the property, such as boundaries and restrictions, which could affect its value.
2. Will: A will is a legal document that outlines how a deceased person's property will be distributed. While a will may not directly affect the value of the property, it can impact its ownership and any potential disputes that may arise.
3. Contract: A contract is a legally binding agreement between parties. In the context of real estate, a contract may include terms and conditions that impact the property value, such as repair obligations or lease restrictions.
4. Lease: A lease is a contractual agreement that allows one party to use another party's property for a specified period of time in exchange for rent. The terms of a lease, such as rental income or lease restrictions, can affect the value of the property.

Therefore, the answer is Option 2: Will.