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The document provided by the seller that described the condition of the property is known as the Transfer Disclosure Statement. As a buyer, you should receive this document during the contract contingency period. The TDS is arguably one of the most important documents of the entire mortgage process.
Maryland doesn't have any statutes or regulations that require landlords to disclose high concentrations of mold in rental properties to prospective tenants or buyers. Also, while federal law requires disclosures about lead paint, it doesn't impose a similar duty on landlords when it comes to mold.
When you sell a real estate property in Maryland, you are required by law to make certain disclosures about its physical condition to the buyer. There are statutes in place which require you to disclose what are called 'latent defects' to the buyer. Failing to do so can open you up to lawsuits from the buyer later on.
§ 10-702(e)(1) states that you must disclose the condition of the water and sewer systems, the structural systems, the plumbing, electrical, heating and air conditioning systems, the existence of wood-destroying insects, the presence of hazardous materials, and any other material defects known to the seller.
When you make an offer on a home, one of the first pieces of paperwork you'll get is a seller's property disclosure. Also known as a \u201cproperty disclosure statement,\u201d \u201chome disclosure\u201d and \u201creal estate disclosure form,\u201d this document contains a list of known problems with the home.
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Hint: The form used to disclose the condition of the property is the "Transfer Disclosure Statement" (TDS).
But, there are 12 states that are still considered \u201cnon-disclosure:\u201d Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming. In a non-disclosure state, transaction sale prices are not available to the public.
Prop 65 is a unique California law requiring businesses to warn consumers against products that may contain quantifiable amounts of over eight-hundred possible chemicals, including lead.
The answer since a dramatic change in Maryland law effective October 1, 2005, is \u201cno\u201d a single family home cannot legally be sold \u201cas is.\u201d Caveat emptor no longer exists in Maryland. This law applies only to single family residential real property improved by four or fewer single family units.
§ 10-702(e)(1) states that you must disclose the condition of the water and sewer systems, the structural systems, the plumbing, electrical, heating and air conditioning systems, the existence of wood-destroying insects, the presence of hazardous materials, and any other material defects known to the seller.

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