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Who must prepare the transfer disclosure statement?
(TDS) This TDS form must be completed in the sellers own handwriting. An agent can help the seller understand whats being asked, but an agent cannot and will not complete this form for a seller under any circumstances.
What is AB 38 disclosure form?
The new California AB-38 fire disclosure establishes that, as of July 1, 2021, California Civil Code Section 1102.19 requires a seller of real property located in a high or very high fire hazard severity zone to provide the buyer with documentation stating the property is in compliance with CAL-FIRE defensible space
What is the purpose of transfer disclosure statement?
California law requires that potential buyers must be informed of any major defects in a property that theyre considering purchasing. Sellers should update their statements if anything occurs to change the propertys condition between the time of submitting the TDS and closing.
Is the Fhds mandatory?
Who Must Comply with FHDS Regulations? Not every house in California must comply with FHDS regulations and furnish an FHDS disclosure form as part of the sale process. The rule only applies to homes located in a fire hazard severity zone designated as high or very high by CAL-Fire.
Is defensible space a law?
Assembly Bill 3074, passed into law in 2020, requires a third zone for defensible space. This law requires the Board of Forestry and Fire Protection to develop the regulation for a new ember-resistant zone (Zone 0) within 0 to 5 feet of the home.
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People also ask
Is fire hardening disclosure required in California?
California requires that properties located High or Very High Fire Hazard Severity Zones, as shown here (or on California Natural Hazard Disclosure Statement), comply with special disclosure requirements related to home fire hardening and defensible space.
What is the purpose of the disclosure statement?
Disclosure statements provide you with the facts you need to make an informed decision. By reading through them and making sure to understand them, youll better protect yourself from making a bad decision.
Who must complete the entire transfer disclosure statement?
Note that in this case, this statement refers strictly to the text of Section V. To complete the transfer disclosure statement, the buyer, seller, buyers agent, and listing agent must sign the document. Without all of these signatures, the document is incomplete.
What is the California Bill AB 38?
As of July 1, 2021, California Assembly Bill 38 (AB 38) states that the seller of a residential property located in specified zones must submit documentation of compliance with locally adopted defensible space requirements prior to the close of escrow.
Is Fhds form required in California?
The standard natural hazard disclosure (NHD) form only indicates whether or not the property is in an elevated fire severity zone as designated by CAL-Fire. If the property lies in a high or very high fire severity zone, the FHDS form must be added to the list of mandatory disclosures.
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