Disclosure Statement Form - Oklahoma

Disclosure Statement Form is a legal document that was released by the Oklahoma Department of Environmental Quality - a government authority operating within Oklahoma.

FAQ

Q: What is a Disclosure Statement Form?A: A Disclosure Statement Form is a document used in Oklahoma to provide important information about a real estate transaction.

Q: Who is required to fill out a Disclosure Statement Form?A: Sellers of residential real estate in Oklahoma are generally required to fill out a Disclosure Statement Form.

Q: What information is included in a Disclosure Statement Form?A: A Disclosure Statement Form typically includes information about the property's condition, any known defects, and environmental hazards.

Q: Why is a Disclosure Statement Form important?A: A Disclosure Statement Form helps buyers make informed decisions about a property by providing them with information about its condition and any potential issues.

Q: What happens if a seller fails to provide a Disclosure Statement Form?A: If a seller fails to provide a Disclosure Statement Form as required by law, the buyer may have legal recourse, including the right to cancel the transaction.

Q: Are there any exemptions to filling out a Disclosure Statement Form?A: Yes, certain types of property sales, such as transfers between family members or foreclosure sales, may be exempt from the requirement to fill out a Disclosure Statement Form.

Q: Do I need to have a Disclosure Statement Form when buying a property in Oklahoma?A: It is highly recommended to obtain a Disclosure Statement Form when buying a property in Oklahoma to ensure that you have all relevant information about the property's condition.

Q: Can a buyer request additional inspections or information about the property?A: Yes, a buyer can request additional inspections or information about the property to further evaluate its condition and any potential issues.

Q: What should a buyer do if they discover undisclosed defects after purchasing a property?A: If a buyer discovers undisclosed defects after purchasing a property, they may have legal options depending on the circumstances. It is advisable to consult with an attorney for guidance.