The Tennessee property disclosure statement is completed by residential property owners to provide an inventory of the premises and disclose any damages to buyers. The document will include information regarding the residence’s plumbing, electrical system, and water supply, as well as any needed repairs, health hazards, and code violations. If the purchase agreement for the sale of the property contains a waiver stating that the buyer accepts the property in “as-is” condition, no property disclosure is required. If such a waiver exists, the seller will not be liable for any property defects found after the property has been transferred.
Laws – § 66-5-202
Purchase Agreement – Provides the terms of the arrangement whereby the buyer will purchase residential property from its owner. Executed by the buyer, seller, and (if applicable) their agents.