What must sellers disclose regarding property conditions under Indiana law?

Sellers in Indiana are required by law to disclose known material defects or issues with the property's condition. This obligation ensures transparency in the real estate transaction process, protecting buyers from potential hazards or costly repairs that could impact their decision to purchase the property. Material defects refer to significant issues that could affect the value or desirability of the property, such as structural problems, mold, or issues with plumbing or electrical systems.

In this context, disclosing defects also serves the interest of maintaining fair trading practices in real estate. Sellers have a legal responsibility to provide this information to potential buyers so that they can make informed decisions. This requirement is a crucial aspect of real estate transactions in Indiana, reinforcing trust between buyers and sellers and preventing disputes after a sale has occurred.

In contrast, simply stating the selling price, listing the duration of the property listing, or providing information about previous owners does not fulfill the legal obligations related to property condition disclosures. These elements may be relevant to a transaction but do not encompass the essential responsibility sellers have regarding the property's known issues.