Contracts
In Pennsylvania, the Seller's Property Disclosure Statement is required by:
AThe Real Estate Settlement Procedures Act (RESPA)
BThe Real Estate Seller Disclosure Law (Act 49 of 1996)✓ Correct
CThe Pennsylvania Human Relations Act
DThe Pennsylvania Consumer Protection Law
Explanation
Pennsylvania's Real Estate Seller Disclosure Law (Act 49 of 1996) requires sellers of most residential properties to complete and deliver a property disclosure statement to buyers before the Agreement of Sale is signed. It requires disclosure of known material defects.
Related Pennsylvania Contracts Questions
- A Pennsylvania Agreement of Sale for new construction typically includes a contingency for:
- A Pennsylvania real estate contract where one party has fully performed is called:
- What is a 'liquidated damages clause' in a Pennsylvania real estate contract?
- A Pennsylvania real estate salesperson who writes a contract is practicing within their license authority because:
- Under Pennsylvania law, if a buyer fails to close without legal justification, the seller's typical remedy is to:
- In Pennsylvania, which of the following would make a listing agreement void (rather than merely voidable)?
- A Pennsylvania licensed attorney reviewing a real estate contract for their client cannot be disciplined by PREC because:
- When a Pennsylvania seller accepts a buyer's offer and then realizes they made a mistake in the acceptance (signed the wrong counter-offer), they may:
Practice More Pennsylvania Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Pennsylvania Quiz →