What is the main difference between the natural hazards disclosure statement and the real property transfer disclosure statement?
A. The transfer disclosure statement is limited to information that the seller has, while the natural hazards disclosure requires additional research
B. The transfer disclosure statement is filled out by the seller, while the natural hazards disclosure is filled out by local authorities
C. The transfer disclosure statement is required for all properties, while the natural hazards disclosure is only for residential properties
D. The transfer disclosure statement is the seller's responsibility, while the natural hazards disclosure is the buyer's responsibility
Answer: A. The transfer disclosure statement is limited to information that the seller has, while the natural hazards disclosure requires additional research
Explanation: The transfer disclosure statement and the natural hazards disclosure statement are both prepared by the seller. The transfer disclosure statement requires only disclosure of known latent defects, though, while the natural hazards disclosure statement requires disclosure of whether the property is in a zone subject to earthquakes, floods, or other natural hazards according to government maps.
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