Duty to Disclose
Buying property? Wonder what the obligation on the Seller is to disclose?
When buying property, the rule of thumb is caveat emptor or buyer beware.
For this reason many Buyers obtain a home inspection. However, a home inspection may be a double edge sword, as it can negate potential title insurance claims.
The Seller has a duty to disclose latent defects or defects that are not readily observable. Observable defects are generally referred to as 'patent' defects. The problem here is that Sellers disputing the claim often claim that they were 'unaware' of the defect. This may permit them to escape liability. It is difficult to establish what they did or did not know.