Final answer:
A Property Disclosure Statement is required in West Virginia for real estate transactions. It provides information about the property's condition to buyers. Sellers are obliged to disclose known issues or defects with the property.
Step-by-step explanation:
Yes, a Property Disclosure Statement is generally required in West Virginia (WV) real estate transactions. In West Virginia, sellers are obligated to provide this statement, which discloses the condition of the property, to potential buyers.
This statement covers various aspects of the property's condition, including structural, environmental, and system-related information. The objective is to inform the buyer of any known issues or defects with the property prior to the sale. However, it is important for the buyer to conduct their own due diligence as well, as sellers may not be aware of all issues.