Real Estate Law
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The Maryland Disclosure/Disclaimer law requires the seller, in completing the Residential Disclosure/Disclaimer Statement, to disclose any latent material defects of which the seller has actual knowledge that a buyer would not reasonably be expected to ascertain by a careful visual inspection, and that would pose a direct threat to the health or safety of the buyer or an occupant.
For the purpose of this law, a “latent defect” means a material defect that a purchaser would not reasonably be expected to discover by visual inspection of the property. A “material” defect is one that would affect the buyer’s decision to buy, the price the buyer would be willing to pay, or other terms to which a buyer would agree.