DRE & LicensingIntermediateCalifornia Exam
What is the 'Real Estate Transfer Disclosure Statement' (TDS)?
AA form used to transfer a real estate license, per standard DRE licensing procedure
BA seller's written disclosure of known material defects and conditions of the propertyCorrect
CA lender's disclosure of loan terms, as required for license renewal in California
DAn agent's disclosure of their commission, consistent with Business and Professions Code licensing rules
Why A seller's written disclosure of known material defects and conditions of the property Is Correct
Answer B: A seller's written disclosure of known material defects and conditions of the property
The TDS is a required California disclosure where the seller discloses known material facts and defects about the property. Agents must also complete their portion.
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Related California Questions
- The Natural Hazard Disclosure (NHD) Statement required in California real estate transactions covers which of the following?Environmental
- In California, the Transfer Disclosure Statement (TDS) is required for:Contracts
- Under California's Transfer Disclosure Statement, which of the following is a seller required to disclose?Environmental
- Which California law requires sellers and agents to provide specific disclosures about property condition to buyers in residential transactions?Fair Housing
- Under California law, the Transfer Disclosure Statement (TDS) is required for:Agency
- Under California law, a real estate licensee is required to disclose their license status in which of the following situations?DRE & Licensing
- California requires a Natural Hazard Disclosure Statement (NHD) for which type of transfer?Environmental
- A selling agent (buyer's agent) is required to conduct which type of inspection of a residential property in California?Agency
Key Terms to Know
Debt-to-Income Ratio (DTI)
A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Math Concepts
State-Specific Concepts
Disclosure Requirements
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