The "Transfer Disclosure Statement" (TDS) has been required since 1987. It is a document that a seller must give to a potential buyer, which outlines any issues with the property that the seller is aware of.
These are questions that the above text answers:
1. What is the purpose of the Transfer Disclosure Statement (TDS)?
2. When was the TDS first required?
3. Who is responsible for providing the TDS?
4. What information does the TDS contain?
5. What is the significance of the TDS in a real estate transaction?
6. What is the role of the seller in relation to the TDS?
7. What is the role of the potential buyer in relation to the TDS?
8. Are there any legal consequences for not providing the TDS?
9. How does the TDS help ensure a smooth real estate transaction?
10. Are there any exceptions to the requirement of providing the TDS?