Under Indiana law, home sellers are required to disclose information regarding the general state of the property before sealing the deal. The disclosure form provides everything a buyer needs to know that could influence his or her decision to buy. Failure to make a proper disclosure gives a buyer, who is caught unaware by an undisclosed problem, the right to sue the seller.
Among the details that are included in the disclosure are the presence of hazardous conditions, including gas leaks, asbestos in the walls, flammable chemicals, and mold. It should be followed by a short description of the actions that have been or will be taken to mitigate the condition. If the seller isn’t certain of any hazardous condition, he or she can check “Do Not Know” on the form.