What Is a Disclosure Form?
A Disclosure Form - also known as a Disclosure Statement - is a formal document outlining the terms and conditions of a loan or an investment in a plain and non-technical language. It provides the borrower, the lender, or the investor with clear and concise information about their obligations, commitments, and rights. You can download one of our customizable templates below and fill it out with your details and the specific information required based on the type of disclosure statement you need. When modified, these forms may also be used in real estate when handing over the property being sold.
In the case of loans, disclosures include the amount borrowed, interest rate, repayment schedule, risks, fees, disbursement conditions, prepayment rights and penalties, options for grace periods or loan deferment, insurance requirements, and any other obligations of the borrower or those of the lender. In mortgages, personal loans, auto loans, small business loans, and student loans, disclosure statements must be appended to the contract and set forth the loan terms.
A disclosure statement for investments explains the rules of the financial transaction without complex financial language. The document states the rights and limitations of deposits, withdrawals, redemptions, and penalties of investments. Moreover, the statements must be provided prior to the execution date of the investment, so that the investor may have time to consider the terms of the transaction and make a decision. It is most commonly used for Individual Retirement Accounts (IRAs), in which instance the document includes information relating to the IRA eligibility requirements, IRA general rules, IRA distribution rules and penalties, and IRA fees.
This document is a record of a sold vehicle in the state of Arkansas. It shows important information about the sale of the vehicle and the parties of the deal. Use this form during the transfer of ownership of your vehicle and as proof of purchase.