Video Summary
What are the seller’s legal duty to disclose defects on the property, or home? Many years ago, I’m guessing about 30 years ago, the Florida Supreme court had made a decision in that style Johnson vs Davis. And in that decision, the court ruled that the seller has a duty to disclose to the seller any matters that may materially affect the property that are not readily observable. This has to do with residential real estate property. It does not apply to commercial property or to vacant property, and that there is no duty to make any disclosure as far as commercial property or vacant property is concerned. Also, if you use the standard, real estate contract provided by the realtors in the Florida bar, it has a clause in it that you have a contractual duty also to disclose any matters that may materially affect the value of the property. Many times when you list your property with a realtor, there is a sheet that is attached to it and questions you about various aspects of a home. And that’s an affirmative representation also. So those are the duties that you have. You don’t have to fill out that information sheet, but you do have the legal duty to disclose any matters that may materially affect the value of the property. So if you have any questions about any defects or you wish to have me handle your estate, closings will give me a call at (727) 847-2288.