Prop Disclaimer?
Question:What does prop disclaimer mean when looking for land? I was looking fo land online and after Disclosures it said "prop disclaimer. what does that mean?
Answers:
Many states have enacted laws that require property owners to disclose known materials defects with a property. It started with homes and whether they had PB plumbing, leaky roof, whatever. They extended it to raw land to cover underground storage tanks, etc. When a person discloses on a property they answer a list of standard questions regarding the property, age of systems, etc. When a person disclaims they are simply stating that they know of no materials defects with the property, but are offering it in as-is condition with no express or implied warranties. This is FAR more common than a disclosure.
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