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The California Transfer Disclosure Statement - 4-2-2023
The California Real Estate Transfer Disclosure Statement (TDS) is a document that is required by law to be completed by the seller of residential real estate in California. The must seller complete the TDS to the best of their knowledge. It is designed to inform the buyer about the condition of the property and any known defects or problems that could affect its value or desirability.
The TDS covers a wide range of topics, including the property's physical condition, such as the roof, plumbing, electrical, heating, and cooling systems, as well as any structural issues or hazards, such as termites, asbestos, or lead-based paint.
The TDS also includes information about any past or current legal disputes or environmental hazards that may affect the property, such as easements, encroachments, zoning violations, or contaminated soil.
The purpose of the TDS is to provide the buyer with a comprehensive and accurate picture of the property's condition, so they can make an informed decision about whether to proceed with the purchase. It is important for sellers to complete the TDS accurately and honestly, as any misrepresentation or omission could result in legal liability or financial damages.