OREA Form 299:    Seller Disclosure Latent Defect(s)

Unfortunately, there’s no Form 299 explained. So, the risk is looking simply at the document.

This title may create the wrong impression.

Latent defects do not have to be disclosed. Only Known, Latent, Material Defects need to be disclosed.

There are certain Identified categories on the Form:

1) Property Structural Defect(s)

2) Property System(s)

3) Property Improvement(s)

4) Other

It’s important to note that none of those categories were referenced in any of the legal cases. So, where did these categories come from?

Using this Form without a full understanding of the law can be risky for agents.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com