Full question:
We closed on our house in TN on Aug 31 of this year. Last week we discovered mold in basements finished walls. They disclosed a leaky basment that had ben repaired with no previous mold. Subsequent investigation into the problem resulted in pictures of previous mold in the same walls that was not disclosed in the house disclousures prior to purchase. Can we recoup the cost of mold damages from the seller since we now have to tear apart the basement to remove the mold from the house and they failed to tell us this had been a problem before?
- Category: Real Property
- Subcategory: Residential Property Disclosure
- Date:
- State: Tennessee
Answer:
The situation involves reviewing the property condition disclosure signed by the sellers. In Tennessee, sellers must disclose all known issues that could affect the property's value. If the sellers were unaware of certain conditions, they may not be held liable for damages. However, if they concealed or failed to disclose past mold problems, you may have grounds for a failure-to-disclose claim.
According to Tennessee law, if a seller misrepresents information on a residential property disclosure, the buyer may seek remedies such as:
- Actual damages for defects present at the time of the purchase, provided the buyer received the disclosure statement and was unaware of the issues before closing or occupancy.
- Termination of the contract prior to closing if misrepresentation occurred.
- Other legal remedies for intentional misrepresentation.
Claims must be filed within one year from the date the buyer received the disclosure statement or closed on the property. It's advisable to consult with a local attorney to explore your options if you believe the sellers misrepresented the property's condition.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.