Tennessee Residential Property Condition Disclosure Template
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ESIDENTIAL
ROPERTY
ONDITION
ISCLOSURE
Property Address:
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Buyer Name(s):
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Seller Name(s):
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Buyers' and Sellers' Rights and Obligations under the Tennessee Residential Property Disclosure Act:
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The Tennessee Residential Property Disclosure Act requires sellers of residential real property with one to four dwelling units to
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furnish to a buyer one of the following: (1) a residential property disclosure statement (the "Disclosure") [this form], or (2) a
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residential property disclaimer statement (permitted only where the buyer waives the required Disclosure). Some property transfers
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may be exempt from this requirement. The following is a summary of the buyers' and sellers' rights and obligations under the Act.
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A complete copy of the Act (TCA Title 66, Chapter 5, Part 2) may be found at:
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1. Sellers must disclose all known material defects, and must answer the questions on this Disclosure form in good faith to the
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best of the seller's knowledge as of the Disclosure date.
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2. Sellers must give the buyers the Disclosure form (or disclaimer statement) before the acceptance of a purchase contract.
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3. Sellers must inform the buyers, at or before closing, of any inaccuracies or material changes in the condition that have occurred
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since the time of the initial Disclosure, or certify that there are no changes.
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4. Sellers may give the buyers a report or opinion prepared by a professional inspector or other expert(s), or certain information provided
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by a public agency, in lieu of responding to some or all of the questions on the Disclosure form.
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5. Sellers are not required to have a home inspection or other investigation in order to complete the Disclosure form.
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6. Sellers are not required to repair any defects listed on the Disclosure form, or on any inspection report, unless agreed to in the
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purchase contract or a contract amendment.
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7. Sellers involved in the first sale of a dwelling must disclose the amount of any impact fees or adequate facility taxes paid.
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8. Sellers are not required to disclose if any occupant was HIV- positive, or had any other disease not likely to be transmitted by
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occupying a home, or whether the home was the site of a homicide, suicide or felony , or other act or occurrence which had
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no effect on the physical structure of the property.
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9. Sellers may provide an "as is", "no representations or warranties" disclaimer statement in lieu of the Disclosure form only if t he
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buyer waives the right to the required Disclosure, otherwise the sellers must provide the completed Disclosure form.
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10. Sellers may be exempt from having to complete the Disclosure form in certain limited circumstances (for example - public
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auctions, court orders, some foreclosures and bankruptcies, new construction with written warranty, or owner has not resided
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on the property at any time within prior 3 years). [see § 66-5-209 for complete list of exemptions]
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11. Buyers are advised to include home, wood infestation, well, water sources, septic system, lead baded paint, radon, mold, and
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other appropriate inspection contingencies in the purchase contract, as this form is not a warranty of any kind by the seller, and
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is not a substitute for any warranties or professional inspections the buyer may desire to purchase.
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12. Buyers should negotiate the repairs of any disclosed defects by addressing them in the purchase contract (see #6).
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13. Buyers may, but do not have to, waive their right to receive the Disclosure form from the sellers if the sellers provide an "as is",
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"no representations or warranties" disclaimer statement.
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14. Remedies for a seller’s misrepresentation or nondisclosure on a Disclosure form may be available to buyer, including the
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possibility of terminating the contract. [§ 66-5-208] Buyer should consult with an attorney regarding any such matters.
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15. Representations in the Disclosure form are those of the sellers only, and not of any real estate licensee, altho ugh licensees are
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required to disclose to all parties adverse facts of which the licensee has actual knowledge or notice.
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16. For newly constructed residences on a septic system, sellers are prohibited from knowingly advertising or marketing a home as
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having more bedrooms than are permitted by the subsurface sewage disposal system permit. [§ 47-18-104(b)]
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17. Sellers must disclose the presence of any known exterior injection well and the results of any known percolation tests or soil
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absorption rate performed on the property that is determined or accepted by the Dept of Environment & Conservation.
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18. For condominiums, buyers are entitled, upon request, to receive information regarding the condominium administration.
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The buyers and sellers involved in the current or prospective real estate transaction for the property listed above acknowledge that
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they were informed of their rights and obligations regarding TN Residential Property Disclosures, and that this information was
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provided by the real estate licensee(s) prior to the completion or reviewing of this Property Condition Disclosure. Buyers and
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sellers also acknowledge that they were advised to seek the advice of an attorney on any legal questions they may have regarding
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this information, or prior to taking any legal actions. Buyers and sellers acknowledge receipt of a copy of this Disclosure.
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The Tennessee Residential Property Disclosure Act states that anyone transferring title to residential real property must provide
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information about the condition of the property. This com pleted fo rm co nstitutes th at d isclosure b y th e seller. This is not a
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warranty, or a substitute for any professional inspections or warranties that the purchasers may wish to obtain.
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Buyers and sellers should be aware that any sales agreement executed between the parties will supersede this form as to any
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obligations on the part of the seller to repair items identified below and/or the obligation of the buyer to accept such items
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“as is.” Parties may wish to obtain professional advice and/or inspections of the property and to negotiate appropriate provisions in
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the purchase agreement regarding advice, inspections or defects.
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Page 1 of 3
Modified on 01/01/2013
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