Environmental
In New York, mold disclosure requirements in residential transactions obligate a seller to:
AHave the property tested for mold and remediated before listing
BDisclose known mold conditions on the Property Condition Disclosure Statement and provide buyers with an EPA mold pamphlet✓ Correct
CDisclose mold only if it is visible and has been professionally tested
DProvide no disclosure; mold is covered only by the home inspection
Explanation
New York's Property Condition Disclosure Statement (PCDS) includes questions about known water infiltration, seepage, and moisture conditions, which cover mold-related issues. Sellers must disclose known mold or moisture problems.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
State-Specific Concepts
Disclosure Requirements
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