Arkansas License Law
Under the Arkansas Residential Property Disclosure Act, which properties are EXEMPT from the disclosure requirement?
ANew construction only
BForeclosure sales, estate sales where the seller has no personal knowledge, and other specifically exempt transactions✓ Correct
CProperties over $500,000
DCommercial properties used partly for residential purposes
Explanation
The Arkansas Property Disclosure Act has specific exemptions including foreclosure sales, transfers by court order, estate transfers where the personal representative has no knowledge, and new construction already covered by a builder's warranty.
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