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Common exceptions include sales or transfers between co-owners, new construction, purchases from lenders after foreclosure, auction sales, or if the Seller has not lived in the home within the 3 years before the Closing.
Under certain circumstances, sellers may be exempted from completing the disclosure, substituting the Tennessee Residential Property Condition Exemption Notification in its place. The most common exemption is when the owner has not resided on the property at any time in the previous three years.
Under certain circumstances, sellers may be exempted from completing the disclosure, substituting the Tennessee Residential Property Condition Exemption Notification in its place. The most common exemption is when the owner has not resided on the property at any time in the previous three years.
The Tennessee Residential Property Disclosure Act states that anyone transferring title to residential real property must provide information about the condition of the property. This completed form constitutes that disclosure by the seller.
The Residential Property Disclosure Act in Tennessee Code Annotated § 66-5-201 to 210 requires most sellers of residential real estate to complete a disclosure statement. The disclosure statement lets the buyers know about the condition of the property.

People also ask

What Must You Tell Buyers? Tennessee is what is known as a full disclosure state, meaning that the seller of residential property must disclose all known material defects to the buyer before or at the time an offer is made.
The Act applies to all sales of residential real property consisting of not less than one dwelling unit, but not more than four dwelling units. The Act applies even if real estate agents are not involved in the sale. The disclosure form required in Tennessee is lengthy, detailed and comprehensive.
Common exceptions include sales or transfers between co-owners, new construction, purchases from lenders after foreclosure, auction sales, or if the Seller has not lived in the home within the 3 years before the Closing.
The Tennessee Residential Property Disclosure Act states that anyone transferring title to residential real property must provide information about the condition of the property. This completed form constitutes that disclosure by the seller.
Tennessee is what is known as a full disclosure state, meaning that the seller of residential property must disclose all known material defects to the buyer before or at the time an offer is made.

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