1. Which property does the Idaho Property Condition Disclosure Act cover?
Answer & explanation
Answer: D. 55-2503 defines residential real property as property improved with one to four dwelling units, and 55-2504 includes nonowner-occupied rentals.
contracts
Idaho Property Condition Disclosure Act
Idaho Code 55-2501 et seq. requires a seller of residential property with one to four units, including nonowner-occupied rentals, to deliver a completed statutory disclosure form within 10 days after accepting the buyer's offer. The buyer may rescind within three business days after receipt by a written, signed, dated notice stating a specific objection, with deposits returned. The form reflects the seller's knowledge and is not a warranty. Under 55-2802, no cause of action arises for failing to disclose psychologically impacted circumstances.
- Exam tip
- 'One to four, ten to deliver, three to walk.' Ten days is the seller's delivery deadline; three business days is the buyer's rescission window.
- Example
- Sellers accept an offer June 1 and deliver the form June 4, disclosing a prior roof leak. The buyer's written objection is timely if delivered by June 9.
Related terms & state variants
Sources
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Last verified: 2026-10-23