Who is exempt?? The sellers disclosure!
The Seller Disclosure (Form 17) is a required document when
transferring real estate in Washington State. The Form 17 is a document
straight from the folks in Olympia (not the Multiple Listing Service).
So, the questions and requirements are set forth by government
through the Revised Code of Washington (RCW).
With few exceptions, Sellers are required to complete a Form 17. If the Buyer does not receive a Form 17 that Buyer can walk away from the transaction any time prior to closing without penalty.
There are a few exemptions in RCW 64.06.010
With few exceptions, Sellers are required to complete a Form 17. If the Buyer does not receive a Form 17 that Buyer can walk away from the transaction any time prior to closing without penalty.
There are a few exemptions in RCW 64.06.010
Application — Exceptions for certain transfers of real property.
This chapter does not apply to the following transfers of real property:
(1) A foreclosure or deed-in-lieu of foreclosure;
(2) A gift or
other transfer to a parent, spouse, domestic partner, or child of a
transferor or child of any parent, spouse, or domestic partner of a
transferor;
(3) A transfer
between spouses or between domestic partners in connection with a
marital dissolution or dissolution of a state registered domestic
partnership;
(4) A transfer
where a buyer had an ownership interest in the property within two years
of the date of the transfer including, but not limited to, an ownership
interest as a partner in a partnership, a limited partner in a limited
partnership, a shareholder in a corporation, a leasehold interest, or
transfers to and from a facilitator pursuant to a tax deferred exchange;
(5) A transfer
of an interest that is less than fee simple, except that the transfer of
a vendee’s interest under a real estate contract is subject to the
requirements of this chapter;
(6) A transfer made by the personal representative of the estate of the decedent or by a trustee in bankruptcy; and
(7) A transfer
in which the buyer has expressly waived the receipt of the seller
disclosure statement. However, if the answer to any of the questions in
the section entitled “Environmental” would be “yes,” the buyer may not
waive the receipt of the “Environmental” section of the seller
disclosure statement.
There is a lot of misinformation about the Seller Disclosure and who
is exempt. Be careful and consult with a knowledgable real estate
professiuonal if you have questions.
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