The Seller's Disclosure Notice Must be completed unless
Do I have to complete a Texas Seller's Disclosure Notice?
A lot of people ask us if they really have to complete the Seller's Disclosure Notice when selling their property in Texas. The answer is "Yes", usually. If you're selling your home or property in Texas then you're not exempt from completing the Sellers Disclosure, unless any one of these 11 reasons applies to you:
If the sale is...
- pursuant to a court order or foreclosure sale;
- by a trustee in bankruptcy;
- to a mortgagee by a mortgagor or successor in interest, or to a beneficiary of a deed of trust by a trustor or successor in interest;
- by a mortgagee or a beneficiary under a deed of trust who has acquired the real property at a sale conducted pursuant to a power of sale under a deed of trust or a sale pursuant to a court ordered foreclosure or has acquired the real property by a deed in lieu of foreclosure;
- by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust;
- from one co-owner to one or more other co-owners;
- made to a spouse or to a person or persons in the lineal line of consanguinity of one or more of the transferors;
- between spouses resulting from a decree of dissolution of marriage or a decree of legal separation or from a property settlement agreement incidental to such a decree;
- to or from any governmental entity;
- of a new residence of not more than one dwelling unit which has not previously been occupied for residential purposes; or
- of real property where the value of any dwelling does not exceed five percent of the value of the property.
If none of these apply to your sale situation, you don't have to fill out the Seller's Disclosure Form when you list your home for sale. Even though this type of seller isn't required to provide a disclosure notice, however, he or she must still disclose awareness of any material defects known to them.
Still not clear? Ask us about this.