The Duty to Disclose Geologic Hazards in Real Estate Transactions

Abstract

Caveat emptor historically limited the rights of purchasers of real property. The increasing trend in the law is to limit caveat emptor, especially with environmental issues, such as asbestos and toxic mold. The duty to disclose may ber imposed by statute or case law. Another duty to disclose requirement is developing with exposure to geologic risks, such as seismic zones or floodplains.

The thesis of this article is that caveat emptor has been superseded by the Tort doctrine duty to disclose such that caveat emptor is increasingly quasi caveat vendor.

Keywords: Caveat Emptor, Real Estate Transactions, Duty to Disclose, Geologic Hazards, Environmental Risks, Statutory Duty to Disclose in Real Estate Transactions, Natural Risks, Natural Hazards, Broker Liability