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NJAR Form-140 2012 4.8 Satisfied (152 Votes)
NJAR Form-140 2004 4.4 Satisfied (289 Votes)
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In New Jersey, a seller is legally required to disclose all "material defects" that the seller knows of in a property.
In New Jersey, home sellers have a legal obligation to buyers to disclose information about their property's known defects. Failure to disclose can result in costly legal skirmishes that most homeowners would rather avoid.
Among the numerous types of things a seller in New Jersey is required to disclose are electrical system hazards, structural problems, roof leakage, termites, environmental hazards, and plumbing, water, and sewage issues.
New Jersey Sellers Must Disclose Known, Latent, Material Defects. In order to protect buyers from unwittingly purchasing real estate with hidden defects, a New Jersey home seller has a duty under the common law to tell prospective buyers about known, latent (concealed) material defects in the property.
Can a buyer sue after closing? Yes. In New Jersey, sellers must disclose known, latent, material defects that they either knew or should have known.
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Can a buyer sue after closing? Yes. In New Jersey, sellers must disclose known, latent, material defects that they either knew or should have known.
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.
If they forget or refuse, the sale is not valid. If a new home buyer discovers a material defect that the seller failed to disclose before the close of the sale, the law may give them the right to cancel the transaction.
Mold Disclosure Requirements in New Jersey New Jersey doesn't have any statutes or regulations that require landlords to disclose high concentrations of mold in rental properties to prospective tenants or buyers.
Is it legal to sell a house with mold? This may surprise you, but, yes, it's legal to sell a house with mold. There are no federal laws against selling houses with mold, though some states do require the seller to disclose whether a home has had past or present mold issues.

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