What triggers the requirement for an Indiana residential property disclosure statement?

The requirement for an Indiana residential property disclosure statement is triggered by the sale of most residential properties. This disclosure is mandated by Indiana law for sellers of residential real estate to provide prospective buyers with information regarding the property's condition. It is a crucial part of the transaction as it aims to inform buyers about potential issues or defects in the home, allowing for more transparent negotiations and decision-making.

The requirement arises when a residential property is being sold, which means that as soon as a seller intends to enter into a sales contract for their property, they must prepare and share this disclosure statement. This helps protect both buyers and sellers in the real estate transaction by ensuring that the buyer is informed about the property's condition and any known issues before finalizing the sale.