contracts

Residential Property Disclosure and Disclaimer Statement

Under Real Property Article §10-702, a seller of one-to-four-unit residential property must give the buyer, on or before contract signing, either a Disclosure Statement reporting known conditions or a Disclaimer Statement selling 'as is'. Even a disclaiming seller must disclose known latent defects that a careful visual inspection would not reveal and that threaten health or safety. If the form is not delivered by signing, the buyer may rescind before receiving it or within 5 days after, until settlement or occupancy.