Duty of Disclosure – Once a decision has been made to purchase a property, the purchaser must be made aware of all important aspects of the purchase. A duty of disclosure exists when the seller feels obligated to disclose certain facts about the property and the prospective buyer can expect the seller to be honest with them. The term is also otherwise called duty of disclosure.
Duty of Disclosure at a Glance: Honest disclosure of the defects of a property
- Seller clarifies important aspects of the property with the prospective buyer
- Duty of disclosure = Duty of clarification
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