Contracts
In Florida, which of the following is a 'material' fact that must be disclosed to buyers of residential property?
AA murder that occurred in the property more than 3 years ago
BThat the previous owner had HIV/AIDS
CKnown structural defects in the foundation that were repaired✓ Correct
DThat the property was previously used as a rental
Explanation
Known structural defects — even repaired ones — are material facts that affect value and must be disclosed. Florida law (F.S. 689.261) requires disclosure of known facts materially affecting value not readily observable. However, Florida law specifically exempts: deaths more than 1 year prior, and that a prior occupant had HIV/AIDS. Prior rental use is generally not material.
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