Question:
Orea form question – is 602 disclosure needed or it is form 161 that’s needed when you are selling a property that you have interest in? I’ve always only used 161.
Answer:
There is new Form is 602. It’s very poorly worded. It may or may not apply. Form 602 would only be required if you were listing the property as well.
You should make reference to TRESA s. 22.2 which will offer more clarity. If it applies and the disclosure is missed, then you could be sued.
Brian Madigan LL.B., Broker