A NC homeowner discovers black mold in their home. Regarding disclosure and remediation, which statement is MOST accurate?
Why The seller must disclose known mold as a material fact on the NC Residential Property Disclosure Statement Is Correct
Answer C: The seller must disclose known mold as a material fact on the NC Residential Property Disclosure Statement
Exam Tip: Environmental
Environmental questions test knowledge of hazards like asbestos, lead-based paint, radon, and mold. Know the disclosure requirements and when a professional inspection is required. CERCLA liability is strict, joint, and several.
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Related North Carolina Questions
- Which federal law requires sellers and landlords to disclose known lead-based paint hazards before a sale or lease of pre-1978 housing in NC?Environmental
- Which of the following best describes a material fact a North Carolina broker must disclose?Agency
- North Carolina requires disclosure of lead-based paint hazards in residential properties built before:Environmental
- Which federal law requires sellers of homes built before 1978 to disclose known lead-based paint hazards?Environmental
- The North Carolina Residential Property and Owners Association Disclosure Statement (RPOADS) must be provided to buyers of:Contracts
- The Home Mortgage Disclosure Act (HMDA) requires lenders to:Finance
- Which NC disclosure form must sellers of most residential property complete?Agency
- A NC seller is required to disclose on the Residential Property Disclosure Statement whether the property is subject to:Environmental
Key Terms to Know
A sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
ZoningLocal 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.
State-Specific Concepts
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