Laws & AgencyQuestion 20 of 120
The California Transfer Disclosure Statement (TDS) is generally required in the sale of:
a.All commercial buildings
b.Vacant industrial land
c.One-to-four residential units
d.Newly constructed high-rises only
Explanation
The TDS is mandated for transfers of residential property of one to four units, requiring the seller to disclose known material facts about the property's condition. Certain transfers, such as those between spouses or by court order, are exempt. The buyer receives a statutory right to cancel for a period after late delivery.
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