Disclosure could protect you from a lawsuit. Today, home sellers in most states must now fill out a form disclosing material facts about their homes, and in some cases have to pay a fee if they don’t. Material facts are details about the home’s condition or legal status, as well as the age of various components.
If your state does not require a written disclosure, the real estate laws probably require sellers to disclose any known problems with the home they are selling.
