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Real property

property disclosure statement

A property disclosure statement is a written document provided by a seller of real property to the prospective buyer stating that the property has a material or significant problem or defect and disclosing the nature of the problem or defect—or stating the seller is unaware of any such problems or defects.

In Arkansas, a property disclosure statement is a document that a seller of real property is typically required to provide to a prospective buyer. This statement discloses material defects or problems with the property that the seller is aware of at the time of the sale. Arkansas law, specifically under the Arkansas Code Annotated § 18-44-101, mandates that sellers disclose any known material defects that could affect the property's value or desirability. The disclosure must be made in good faith and include details about the nature of the problem or defect. If the seller is unaware of any issues, this should also be stated in the disclosure. Failure to provide a truthful property disclosure statement can lead to legal consequences for the seller, including potential rescission of the sale or damages if the buyer later discovers undisclosed defects.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Arkansas State Code

Arkansas State Code

Real property

property disclosure statement

Articles