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Any transaction regarding the sale, transfer, lease, or exchange of one-to-four residential units requires the seller to provide a TDS.
The seller is required to complete the PCDS based on the sellers actual knowledge. Under Section 466, a licensed real estate broker/salesperson acting in a fiduciary capacity on behalf of seller is required to inform the seller of its obligations under the Property Condition Disclosure Act.
Sellers are required to disclose property information to the realtor and potential buyers based on state and local laws. A disclosure document details a propertys condition and what might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime.
Form 2A12-TOwners Association Disclosure and inium Resale Statement Addendum (Revised 7/2022) NCREALEST 3:31. North Carolina Real Estate with Forms. Real Estate Sales Contracts and OptionsCommercial and Residential.
In some states, including California, your real estate agent is not legally allowed to help you fill out the form, so youll need to complete it on your own.
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The TDS disclosures in residential sales are required to be delivered as soon as practicable before transfer of title. Civil Code 1102.3(a).
The Residential Property Disclosure Act, codified as North Carolina G.S. 47E, requires the seller of residential real estate (one to four dwelling units) to complete a formknown formally as the Residential Property and Owners Association Disclosure Statementdisclosing conditions and defects with the property.

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