What does the executor of an estate have to disclose to potential buyers?
10/27/2014 | Author: Editorial Staff
My client has been named the executor of his mother’s estate. She recently passed away, and he is planning to sell her home. He hasn’t lived in the property, so he has no idea if there are any existing issues. Is he still required to furnish a Seller’s Disclosure Notice to potential buyers?
No. Certain types of sellers, like an administrator or executor of an estate, are not required to provide a seller’s disclosure notice to prospective buyers. The seller should check the box in Paragraph 7B(3) to show that the Seller’s Disclosure Notice is not required. This situation is one of the 11 exemptions found in the statute regulating seller’s disclosure notices.
Remember that even though this type of seller is not required to provide a disclosure notice, he must still disclose any known material defects.
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