Property Tn Form PDF Details

In the complex world of real estate transactions, understanding the obligations and rights of both sellers and buyers is crucial, especially when it comes to the condition of the property being sold. The Tennessee Residential Property Disclosure Act outlines these responsibilities in detail, requiring the seller to provide either a residential property disclosure statement or a disclaimer statement, with certain exemptions. This act aims to protect buyers by ensuring they are well-informed about the property's condition through disclosures about material defects, environmental hazards, shared features with neighbors, zoning violations, and more. Additionally, the Act sets specific disclosures for newly constructed residences, condominiums, and properties with certain features like septic systems. It's important for buyers to include various inspection contingencies in their purchase contracts and to understand the remedies available should a seller misrepresent or fail to disclose property conditions. With these measures, Tennessee's legislation seeks to foster transparency and fairness in real estate transactions, emphasizing the importance of professional inspections and legal advice for buyers navigating this process.

QuestionAnswer
Form NameProperty Tn Form
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other namesreal estate disclosure form, tennessee residential property condition disclosure, tennessee property disclosure form, tn disclosure

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8. Sellers are not required to disclose if any occupant was HIV- positive, or had any other disease not likely to be transmitted by occupying a home, or whether the home was the site of a homicide, suicide or felony, or other act or occurrence which had no effect on the physical structure of the property.
9. Sellers may provide an "as is", "no representations or warranties" disclaimer statement in lieu of the Disclosure form only if t he buyer waives the right to the required Disclosure, otherwise the sellers must provide the completed Disclosure form.
10. Sellers may be exempt from having to complete the Disclosure form in certain limited circumstances (for example - public auctions, court orders, some foreclosures and bankruptcies, new construction with written warranty, or owner has not resided on the property at any time within prior 3 years). [see § 66-5-209 for complete list of exemptions]
11. Buyers are advised to include home, wood infestation, well, water sources, septic system, lead baded paint, radon, mold, and other appropriate inspection contingencies in the purchase contract, as this form is not a warranty of any kind by the seller, and is not a substitute for any warranties or professional inspections the buyer may desire to purchase.
12. Buyers should negotiate the repairs of any disclosed defects by addressing them in the purchase contract (see #6).
13. Buyers may, but do not have to, waive their right to receive the Disclosure form from the sellers if the sellers provide an "as is", "no representations or warranties" disclaimer statement.
14. Remedies for a seller’s misrepresentation or nondisclosure on a Disclosure form may be available to buyer, including the possibility of terminating the contract. [§ 66-5-208] Buyer should consult with an attorney regarding any such matters.
15. Representations in the Disclosure form are those of the sellers only, and not of any real estate licensee, although licensees are required to disclose to all parties adverse facts of which the licensee has actual knowledge or notice.
16. For newly constructed residences on a septic system, sellers are prohibited from knowingly advertising or marketing a home as having more bedrooms than are permitted by the subsurface sewage disposal system permit. [§ 47-18-104(b)]
17. Sellers must disclose the presence of any known exterior injection well and the results of any known percolation tests or soil absorption rate performed on the property that is determined or accepted by the Dept of Environment & Conservation.
18. For condominiums, buyers are entitled, upon request, to receive information regarding the condominium administration.

TN RESIDENTIAL PROPERTY CONDITION DISCLOSURE

1Property Address:

2 Buyer Name(s):

3 Seller Name(s):

4Buyers' and Sellers' Rights and Obligations under the Tennessee Residential Property Disclosure Act:

5The Tennessee Residential Property Disclosure Act requires sellers of residential real property with one to four dwelling units to

6 furnish to a buyer one of the following: (1) a residential property disclosure statement (the "Disclosure") [this form], or (2) a

7 residential property disclaimer statement (permitted only where the buyer waives the required Disclosure). Some property transfers

8 may be exempt from this requirement. The following is a summary of the buyers' and sellers' rights and obligations under the Act.

9 A complete copy of the Act (TCA Title 66, Chapter 5, Part 2) may be found at: http://tn.gov/commerce/boards/trec

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1.Sellers must disclose all known material defects, and must answer the questions on this Disclosure form in good faith to the best of the seller's knowledge as of the Disclosure date.

2.Sellers must give the buyers the Disclosure form (or disclaimer statement) before the acceptance of a purchase contract.

3.Sellers must inform the buyers, at or before closing, of any inaccuracies or material changes in the condition that have occurred since the time of the initial Disclosure, or certify that there are no changes.

4.Sellers may give the buyers a report or opinion prepared by a professional inspector or other expert(s), or certain information provided by a public agency, in lieu of responding to some or all of the questions on the Disclosure form.

5.Sellers are not required to have a home inspection or other investigation in order to complete the Disclosure form.

6.Sellers are not required to repair any defects listed on the Disclosure form, or on any inspection report, unless agreed to in the purchase contract or a contract amendment.

7.Sellers involved in the first sale of a dwelling must disclose the amount of any impact fees or adequate facility taxes paid.

44The buyers and sellers involved in the current or prospective real estate transaction for the property listed above acknowledge that

45they were informed of their rights and obligations regarding TN Residential Property Disclosures, and that this information was

46provided by the real estate licensee(s) prior to the completion or reviewing of this Property Condition Disclosure. Buyers and

47sellers also acknowledge that they were advised to seek the advice of an attorney on any legal questions they may have regarding

48this information, or prior to taking any legal actions. Buyers and sellers acknowledge receipt of a copy of this Disclosure.

49The Tennessee Residential Property Disclosure Act states that anyone transferring title to residential real property must provide

50information about the condition of the property. This com pleted fo rm co nstitutes th at d isclosure b y th e seller. This is not a

51warranty, or a substitute for any professional inspections or warranties that the purchasers may wish to obtain.

52Buyers and sellers should be aware that any sales agreement executed between the parties will supersede this form as to any

53obligations on the part of the seller to repair items identified below and/or the obligation of the buyer to accept such items

54“as is.” Parties may wish to obtain professional advice and/or inspections of the property and to negotiate appropriate provisions in

55the purchase agreement regarding advice, inspections or defects.

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56INSTRUCTIONS TO THE SELLER

57Complete this form yourself and answer each question to the best of your knowledge. If an answer is an estimate, clearly label it

58as such. Explain any YES answers and describe the nature and extent of any defects or repairs. If more space is needed, attach

59additional sheets. You may also attach any documents pertaining to repairs or corrections. The Seller hereby authorizes any real

60estate licensee involved in this transaction to provide a copy of this statement to any person or entity in connection with any actual

61or anticipated sale of the subject property.

621. Property age: _______________

632. Date seller acquired the property: ______________

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3. Does seller currently occupy the property?

Seller occupies property

Seller does not occupy property

654. If not currently seller-occupied, how long has it been since the seller did occupy the property, if ever?

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5. The property is a

site-built home

non-site-built home (e.g. - modular, manufactured,

mobile)

676. Roof type (e.g. - composition asphalt shingle, wood, metal, tile): ________________________ Approx. age of roof:

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7. Is there a Homeowners Association (HOA) which has any authority over the subject property?

Yes

No

69Name & address of HOA:

70Monthly Dues: _________ Transfer Fees: _________ Special Assessments:

71A. The property includes the items checked below:

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Range

 

Spa/Whirlpool Tub

 

 

Access to Public Streets

Oven

 

Hot Tub

 

 

 

Current Termite Contract

Microwave

 

Sauna

 

 

 

TV Antenna/Satellite Dish

Dishwasher

 

All Landscaping and Outdoor Lighting

excluding components

Garbage Disposal

 

Patio/Decking/Gazebo

 

 

Burglar Alarm/Security System

Trash Compactor

 

Irrigation System

 

 

including components and controls

Water Softener

 

Installed Outdoor Cooking Grill

 

Smoke Detector/Fire Alarm

220 Volt Wiring

 

Pool

In-ground

Above-ground

Garage

Attached Not Attached

Washer/Dryer Hookups

 

Rain Gutters

 

 

Garage Door Opener(s) and remotes.

Window Screens

 

Sump Pump

 

 

How many remotes?______

Fireplace (How many? _____)

Central Vacuum System and attachments

Carport

 

 

Gas Starter for Fireplace

 

A key to all exterior doors

 

Wall/Window Air Conditioning

Gas Fireplace Logs

 

Intercom

 

 

 

Heat Pump (Approx. age: _______)

Central Heating

Age: __________

Electric

Gas

Other:

 

 

 

Central Air Conditioning

Age: __________

Electric

Gas

Other:

 

 

 

Water Heater

Age: __________

Electric

Gas

Other

(solar, geothermal, tankless, etc):

 

Water Supply

City Water

Private Well

Shared Well

Other:

Sewage Disposal

City Sewer

Septic Tank

STEP System

Other:

Gas Supply

Utility

Bottled Gas or Private LP Tank

Other:

Other items included:

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To the best of seller’s knowledge, are any in Part A above NOT in operating condition:

YES

NO

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If YES, then describe:

 

 

 

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97B. Is Seller AWARE of any defects or malfunctions in any of the following?

 

Yes

No

N/A

Yes

No

N/A

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Interior Walls

 

 

Roof

 

 

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Ceilings

 

 

Basement

 

 

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Floors

 

 

Foundation

 

 

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Windows

 

 

Slab

 

 

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Doors

 

 

Driveway

 

 

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Insulation

 

 

Sidewalks

 

 

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Plumbing

 

 

Central Heating

 

 

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Sewer/Septic

 

 

Heat Pump

 

 

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Electrical System

 

 

Central Air Conditioning

 

 

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Exterior Walls

 

 

 

 

 

108If any of the above in Part B are marked YES, please explain:

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110__________________________________________________________________________________________________________________

111Please describe any repairs made by you or any previous owners of which you are aware (attach separate sheets if necessary):

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26. The property is in an historical district or has been declared historical by a governmental authority and permission must be obtained before certain improvements or aesthetic changes to the property are made?

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C. Is Seller AWARE of any of the following:

YES NO N/A

1. Substances, materials or products which may be environmental hazards such as, but not limited to: asbestos, radon gas, lead-based paint, fuel or chemical storage tanks, methamphetamine, contaminated soil or water, and/or known existing or past mold presence on the subject property?

2. Features shared in common with adjoining land owners with joint rights and obligations for use and maintenance (e.g. - driveways, private roads, walls, fences, wells, septic systems, etc)?

3. Any authorized changes in roads, drainage or utilities affecting the property, or contiguous to the property?

4. Any changes since the most recent survey of the property was done? (Most recent survey of property: _______)

5. Any encroachments, easements, or similar items that may affect your ownership interest in the property?

6. Room additions, structural modifications or other alterations or repairs made without necessary permits?

7. Room additions, structural modifications, other alterations or repairs not in compliance with building codes?

8. Landfill (compacted or otherwise) on the property or any portion thereof?

9. Any settling from any cause, or slippage, sliding or other soil problems?

10. Flooding, drainage or grading problems?

11. Any requirement that flood insurance be maintained on the property?

12. Any of the property located in a designated flood hazard area?

13. Any past or present interior water intrusions(s), standing water within foundation and/or basement?

132 14. Property or structural damage from fire, earthquake, floods, landslides, tremors, wind, storm, or wood

133destroying organisms (such as termites, mold, etc.)?

134 15. Any zoning violations, nonconforming uses and/or violations of “setback” requirements?

135 16. Neighborhood noise problems or other nuisances?

136 17. Subdivision and/or deed restrictions or obligations?

137 18. Any “common area” (pools, tennis courts, walkways, etc), co-owned in undivided interest with others? 138 19. Any notices of abatement or citations against the property?

139 20. Any lawsuit(s) or proposed lawsuit(s) by or against the seller which affects or will affect the property? 140 21. Any system, equipment or part of the property that is being leased? (e.g. security system, water softener,

141satellite dish, etc.) Lease payoffs or assumptions should be addressed in the purchase contract.

142 22. Any exterior wall covered with exterior insulation and finish systems (EIFS, or synthetic stucco)?

143If yes, has there been a recent inspection to determine whether the structure has excessive moisture

144accumulation and/or moisture related damage? [explain below] (The Tennessee Real Estate Commission

145urges any buyer or seller who encounters this product to have a qualified professional inspect the property)

146 23. Any finished rooms that are not supplied with heating and air conditioning?

147 24. Any septic tank or other private disposal system that does not have adequate capacity and approved design

148to comply with present state and local requirements for the actual land area and number of bedrooms?

149If residence is on a septic system, the septic system is legally permitted for _______ number of bedrooms.

150 25. The property is affected by covenants, conditions, restrictions (CCR’s), or Home Owner Association by-laws

151requiring approval for changes, use, or alterations to the property?

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153If any of the above in Part C are marked YES, please explain:

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157Seller certifies that this information is true and correct to the best of seller’s knowledge as of the date signed.

158X________________________________________________ X____________________________________________________

Seller Signature

Date & Time

Seller Signature

Date & Time

159Buyer understands that this Disclosure is not intended as a substitute for any inspection, and that buyer has a responsibility

160to pay diligent attention to and inquire about defects which are evident by careful observation. Buyer acknowledges receipt

161of a copy of this Disclosure.

162X________________________________________________ X____________________________________________________

Buyer Signature

Date & Time

Buyer Signature

Date & Time

 

 

 

 

NOTE: Seller must give buyer a Final Property Condition Disclosure (separate form) at or before closing to disclose any material changes that may have occurred, or to certify that there were no changes since the time of this Disclosure.

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Modified on 01/01/2013

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Stage # 1 in submitting tn property disclosure form

2. After performing the previous step, go on to the subsequent stage and fill out the necessary particulars in these blank fields - Complete this form yourself and, nonsitebuilt home eg modular, Seller does not occupy property, Seller occupies property, sitebuilt home, Yes, A The property includes the items, Range Oven Microwave Dishwasher, SpaWhirlpool Tub Hot Tub Sauna All, Aboveground, Inground, Access to Public Streets Current, excluding components, Burglar AlarmSecurity System, and including components and controls.

Range Oven Microwave Dishwasher, excluding components, and including components and controls inside tn property disclosure form

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