What does a Seller have to disclose?
The Seller is under a legal obligation under the common law to disclose:
- Patent defects if they were concealed, and
- Latent Defects if they are Known and meet a certain threshold, that is:
- they affect the structural integrity of the building, or
- they render the premises unfit for habitation.
Today, if the Seller decides not to disclose such matters, their own agent is under a legal duty to follow their instructions.
As of 1 April 2023, this will not be the case, their own agent will be under a legal obligation under TRESA to advise everyone who expresses an interest in the property about this fact.
Brian Madigan LL.B., Broker