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Question:

The Transfer Disclosure Statement (TDS) form is required on ____

A the sale of a one-to-four unit residential property.
Explaination

Many disclosure laws target one-to-four unit residential properties as a protected class of real estate. As the Transfer Disclosure Statement (TDS) form is completed by a seller regarding known facts, it is not required in the instance of a foreclosure. Further, commercial property transactions require the disclosure of property defects affecting value, but the statutory TDS form is not required.