Chapter 1
Kentucky Real Estate Law & Regulations
Course: Kentucky Real Estate Exams Prep
Subject: Kentucky State Sales Associate Exam Prep
Chapter: Property Disclosure Amp Environmental Issues Of Kentucky National Sales Associate Exam Prep
Kentucky Seller's Disclosure of Property Condition Form (KRS 324.360):
- This law fundamentally modified the old caveat emptor ("buyer beware") doctrine for residential sales. Sellers of 1-4 unit residential properties must complete this comprehensive form to the best of their actual knowledge. It is not a warranty or a substitute for an inspection; it is a disclosure of known conditions.
- What It Covers: The form is a checklist with "Yes," "No," or "Unknown" answers and space for explanations. Key sections include:Structural: Foundation, walls, floors, roof (age and leaks), basement/crawl space moisture.Systems: Electrical, plumbing, HVAC, water heater.Environmental: Lead paint, asbestos, radon, mold, termites/pests.Legal/Zoning: Room additions without permits, boundary disputes, HOA/restrictions.Other: Known defects in appliances, fixtures, or any other material facts.
- Structural: Foundation, walls, floors, roof (age and leaks), basement/crawl space moisture.
- Systems: Electrical, plumbing, HVAC, water heater.
- Environmental: Lead paint, asbestos, radon, mold, termites/pests.
- Legal/Zoning: Room additions without permits, boundary disputes, HOA/restrictions.
- Other: Known defects in appliances, fixtures, or any other material facts.