Podcast
Questions and Answers
What is the purpose of a property disclosure statement when selling vacant land?
What is the purpose of a property disclosure statement when selling vacant land?
Which of the following is NOT required to be included in a property disclosure statement?
Which of the following is NOT required to be included in a property disclosure statement?
If a seller of vacant land fails to provide the required property disclosure statement, what is the potential consequence?
If a seller of vacant land fails to provide the required property disclosure statement, what is the potential consequence?
Which statement about the term 'vacant land' is accurate?
Which statement about the term 'vacant land' is accurate?
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What information must a seller disclose about the wind estate according to the law?
What information must a seller disclose about the wind estate according to the law?
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Which option about the waiver of disclosure is correct?
Which option about the waiver of disclosure is correct?
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What is required for any transfer of vacant land described in the law?
What is required for any transfer of vacant land described in the law?
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What form must be used when selling vacant land per the law?
What form must be used when selling vacant land per the law?
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Study Notes
Vacant Land Disclosure Requirements
- Sellers of vacant land in Wyoming are required to provide prospective buyers with a property disclosure statement.
- The disclosure statement must include information on:
- Whether the property is being offered as a unified estate
- Whether the mineral estate has been severed from the surface estate
- Availability and location of utilities, including roads, water, sewer, and fire protection
- Existence and location of any easements
- The disclosure statement must also include information on whether the wind estate has been severed from the surface estate.
- Buyers may waive disclosure of the information required by the law.
- Failure to provide the disclosure statement does not invalidate the land transfer, but the seller could be liable for damages if they intentionally or negligently violate the law.
- The law defines "vacant land" as land with no habitable dwelling, not within a platted subdivision or city/town boundaries, and less than 140 acres.
- The WA Form 900F or an attorney-approved form must be used when selling vacant land.
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Description
This quiz covers the legal obligations for sellers of vacant land in Wyoming, focusing on the required property disclosure statement. Learn about the essential information that must be included, the consequences of not providing it, and what buyers need to know. Test your understanding of these important real estate regulations.
