The Residential Property Disclosure Act ("Act)', requires owners of residential real estate to furnish purchasers a Residential Property Disclosure Statement ("Statement'). A version of the Act has been adopted by 29 States.
The Act generally covers the transfer of residential property--from a single family dwelling unit to buildings containing up to four dwelling units. In some states, the Act applies regardless of the involvement of a real estate agent and may apply whether the property is to be sold, exchanged, optioned or purchased under a lease with option to purchase.
Certain transactions are exempted from the Act such a forced sales, foreclosures, and other transactions.
The form you have found is the required disclosure form for Tennessee.
Tennessee Real Estate Residential Property...
