Duty to Disclose

Duration – 2 hours
2 Hours Continuing Education Credit

COURSE DESCRIPTION:

  • Duty to disclose is the leading cause of lawsuits against realtors® in Florida.  We review the duty to disclose doctrine embedded in (1) the residential purchase and sales contract (“Contract”); (2) the listing agreement; (3) Seller’s property disclosure-residential, as well as (4) the Florida case law (lawsuits).
  • In addition to disclosures required in the Contract (Permits, Mold, Flood zone, Radon, Energy, Lead-based paint, HOA/Community disclosure, Condo Rider including Milestone Inspection/SIRS, Property tax, FIRPTA and Seller disclosure), we also cover disclosures required by Florida law but not present in the Contract, which are Sewer lines, Sinkholes, Subsurface rights, Coastal construction control line, and Construction recovery fund.
  • Finally, we discuss Johnson v. Davis, and many other lawsuits to illustrate how realtors® can protect themselves against the duty to disclose liability and increase their value to the clients by becoming experts in the duty to disclose matters.

Here’s what prior attendees had to say about this program!

Great class!!! Should be mandatory.
C.J. Company Name
Informative and very detailed presentation. Many valuable take-ways.
B.S. Company Name
Great class- very informative.
S.B.Company Name
I was able to understand Buyer & Seller & Realtor responsibilities to a much greater degree.
C.B.Company Name
Thank you, great information and it has created more vigilance and awareness.
S.M.Company Name
Thank you for making this topic clearer.
Al***Company Name
Thank you for sharing your professional knowledge with us.
S.V.Company Name
Thank you for all your informative knowledge and we do appreciate it!
Jos***Company Name
Thank you, Kamlesh.
G.K.Company Name
This training was very valuable and informative.
J***Company Name
Thank you so much. Valuable class. Awesome.
E. B.Company Name
Thank you very much. Very informative!
Vi*****Company Name

The answer to the question we get asked frequently: does the seller’s duty to disclose extend to the agent/broker? Duty to disclose is lurking behind Structural, Environmental, Termites, Plumbing, HOA, Roof, and Zoning aspects of nearly every home.  Learn how to troubleshoot them and protect yourself from liability.

LEARNING OBJECTIVES:

Upon completing this course, the participants should be able to:

  1. Understand that the duty to disclose doctrine is embedded FAR-BAR As Is residential purchase and sale contract (“Contract”), the Listing Agreement and the Seller’s Property Disclosure-Residential.
  2. Understand the Florida Supreme Court case of Johnson v. Davis which gave rise to the duty to disclose doctrine and the distinction between latent v. patent defects.
  3. Grasp several aspects of the duty to disclose doctrine with the help of lawsuits involving zoning violations, homes in flood prone area, unpermitted work, defective foundation, actual knowledge v. constructive knowledge, and mold.
    • Does the duty to disclose apply if the information is publicly available?
  4. Become knowledgeable about the duty to disclose requirements present in the Contract, including: Permits, Mold, Flood zone, Radon, Energy, Lead-based paint, HOA/Community disclosure, Condo Rider including Milestone Inspection/SIRS, Property tax, FIRPTA and Seller disclosure.
  5. Learn the duty to disclose requirements not present in the Contract but required under Florida law, including: Sewer lines, Sinkholes, Subsurface rights, Coastal construction control line, and Construction recovery fund.
  6. Know all about the liability of realtors®: what claims can be brought against them?  Answer: Breach of duty of care: negligence, Duty to disclose: fraudulent misrepresentation/fraudulent nondisclosure, Negligent misrepresentation, Breach of Contract, Rescission, Unjust enrichment and Damages.
  7. Learn how the duty to disclose doctrine affects the seller, the realtor® and the deal.
    • How can the sellers protect themselves?
    • Impact of the breach of the duty to disclose a.k.a. fraudulent misrepresentation on the deal.
    • Does the Permits disclosure clause in the Contract help the buyer or seller?
    • Does the seller’s the duty to disclose extend to the seller’s realtor®?
    • Does the “As Is” clause override the duty to disclose?
  8. Commercial real estate
    • Does the duty to disclose apply to purchase and sale of commercial property?
    • Role of caveat emptor or buyer beware
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