Key Takeaways
- Wyoming is a "caveat emptor" (buyer beware) state with limited mandatory seller disclosure requirements
- Sellers are not required by state law to complete a comprehensive property disclosure form
- Licensees must disclose known material defects that could affect property value
- Lead-based paint disclosure IS required for pre-1978 homes under federal law
- Agents must truthfully answer direct questions from buyers about property conditions
Wyoming Property Disclosure Requirements
Wyoming's approach to property disclosure differs significantly from many other states.
Caveat Emptor ("Buyer Beware")
Wyoming is a caveat emptor state, meaning sellers have limited mandatory disclosure obligations:
Key Points
| Fact | Implication |
|---|---|
| No comprehensive disclosure statute | Sellers not required to fill out detailed disclosure form |
| Buyer beware | Buyers responsible for conducting due diligence |
| Voluntary disclosure | Many sellers still provide voluntary disclosure |
Important: While Wyoming doesn't require a formal disclosure statement, this doesn't mean sellers can lie or conceal known defects.
What Must Still Be Disclosed
Despite caveat emptor, certain disclosures are still required:
Truthful Responses Required
Sellers and their agents must:
- Answer honestly when asked direct questions
- Not actively conceal known defects
- Not make misrepresentations about the property
Licensee Disclosure Obligations
Licensees must disclose known material defects including:
| Material Facts | Examples |
|---|---|
| Physical defects | Foundation issues, roof leaks, plumbing problems |
| Environmental hazards | Mold, flooding history, contamination |
| Legal issues | Zoning violations, easements, liens |
| Property condition | Systems not functioning, structural damage |
Wyoming Seller's Property Disclosure Statement
The Wyoming Real Estate Commission provides a voluntary Seller's Property Disclosure Statement form:
| Feature | Details |
|---|---|
| Required by law | No—voluntary |
| Commission provides form | Yes |
| Covers | Zoning, flood risks, utility services, property condition |
| Best practice | Many brokerages recommend using it |
Stigmatized ("Psychologically Impacted") Property
Wyoming follows general rules regarding stigmatized property:
Generally No Duty to Disclose
Licensees generally have no duty to inquire about or disclose:
- Deaths on the property
- Suicides or violent crimes
- Alleged paranormal activity
- Proximity to sex offenders
Exception: Direct Questions
If a buyer directly asks about a specific issue and the licensee knows the answer, they should respond honestly.
Example: If a buyer asks "Did someone die in this house?" and the agent knows the answer, they should respond truthfully.
Flood Risk Disclosure
Wyoming requires disclosure of flood risk:
| Requirement | Details |
|---|---|
| Flood zone status | Should be disclosed if known |
| FEMA maps | Available for reference |
| Insurance requirements | Buyer should be informed if in flood zone |
Federal Lead-Based Paint Disclosure
For homes built before 1978, federal law requires:
| Requirement | Details |
|---|---|
| Disclosure | Known lead-based paint hazards |
| Pamphlet | EPA pamphlet "Protect Your Family From Lead" |
| Inspection period | Buyer has 10 days to inspect (waivable) |
| Form | Lead-Based Paint Disclosure form |
Warning: Lead-based paint disclosure is REQUIRED regardless of Wyoming's caveat emptor stance. This is federal law that supersedes state law.
Consequences of Non-Disclosure
While Wyoming follows caveat emptor, there are still consequences for improper conduct:
| Violation | Consequence |
|---|---|
| Fraud | Seller liable for damages |
| Active concealment | Sale may be voided |
| Misrepresentation | Lawsuit for damages |
| Agent misconduct | License discipline |
Key Point: Wyoming has laws against fraud. Hiding defects or misleading buyers can result in serious legal consequences.
Which statement is TRUE about Wyoming's property disclosure requirements?
Under Wyoming law, which of the following MUST be disclosed?
If a buyer asks a Wyoming licensee directly whether the property has ever flooded, what should the licensee do?