Escrow & Title
In Florida, the seller's disclosure of property condition is required under:
AFederal Fair Housing Act
BFlorida common law and Chapter 475 F.S., established by Johnson v. Davis (1985)✓ Correct
CRESPA
DChapter 83 (Landlord-Tenant Act)
Explanation
Florida's disclosure duty is rooted in the Florida Supreme Court's 1985 decision in Johnson v. Davis, which established that sellers must disclose known material defects that significantly affect the property's value and are not readily observable by buyers.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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