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Transfer disclosure statement

Real estate transfer disclosure statement form 2025

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The document outlines the Real Estate Transfer Disclosure Statement (TDS) requirements in California, which mandates that sellers and real estate agents disclose the condition of a property to prospective buyers before the transfer of title. It specifies the roles of sellers and brokers in delivering these disclosures and highlights that providing expert reports can limit liability for sellers and agents. Additionally, it notes recent updates to the TDS, including compliance statements for smoke detectors and water heater bracing.

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What is the transfer disclosure statement?

1102.3) 2. . The (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.

Who is exempt from completing a transfer disclosure statement?

Transfers Between Related Parties Family transactions are frequently exempt, including: Transfers between co-owners. Sales or gifts to spouses or direct family members (e.g., parent to child). Transfers resulting from divorce settlements or property divisions.

Which of the following types of sales are exempt from the transfer disclosure statement?

The TDS law does not apply to residential properties of 5 or more units, commercial, industrial, vacant land or agricultural property.

Who must prepare the transfer disclosure statement?

Filling out the California Transfer Disclosure Statement: Allby yourself, sellers! Generally, sellers complete real estate disclosure paperwork after the buyers sign the purchase offer agreement or may even have it filled out prior to listing their home.

What should a disclosure statement include?

Disclosure statements must include any relevant relationships identified through the Providers disclosure process. Disclosures no longer need to be labeled separately as financial and non-financial relationships, although Providers who wish to continue to format disclosure statements this way may do so.

Who is exempt from the TDS?

Other exemptions from of the TDS include transfers from one co-owner to another, transfers made to a spouse or child, grandchild, parent, grandparent or other direct ancestor or descendent; transfers between spouses in connection with dissolution of marriage, and various transfers to the state for failure to pay

What is exempt from SPQ?

Certain types of transactions may be exempt from requiring an SPQ. For example, sales involving foreclosures, properties sold by an estate, or transfers between family members might not need an SPQ.

Real estate transfer disclosure statement form 2025

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