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The Michigan Seller's Disclosure Act is a Michigan law that applies to transactions involving residential real estate. The Act requires that sellers of residential real estate make certain disclosures about the property to the prospective purchaser.

The Seller's Disclosure Act (the "Act") applies to all transfers of interest in residential real property, including multi-unit residential properties of up to 4 units, including: Sales Exchanges Land contract Leases with option to purchase Transfers of stock in a residential cooperative Ground leases coupled with proposed improvements by purchaser All other purchase options

The Act does not apply to: Transfers pursuant to a court order Transfers to a mortgagee by a mortgagor or successor in interest who is in default Transfers as a result of a foreclosure proceeding Transfer's by fiduciaries who do not occupy the property (personal representatives, guardians, and conservators.) Transfers between co-tenants Transfers to a spouse, parent, grandparent, child, or grandchild Transfers between spouse as the result of a judgment of divorce Transfers or exchanges from any governmental entity (tax sale properties) Transfers of newly constructed homes by licensed contractors

The purchaser may terminate the purchase agreement within 72 hours of receiving the Disclosure if delivered in person or within 120 hours if the Disclosure is delivered by registered mail.

You are not liable for incorrect or inaccurate Disclosure statements if you had no knowledge of the inaccuracy, the information you provided was based on information provided to you by government agencies or home inspection professionals, and you were careful in communicating the information you received from any third parties. If you find out that the data in the Disclosure is inaccurate you must notify the Purchaser in writing of the inaccuracy as soon as you discover it.