Disclosure

TXR 1408 — Commercial Property Condition Statement

This form is a disclosure of the seller's or landlord's knowledge of the condition of a commercial property as of the date signed. It covers environmental conditions, flood history, structural defects, building systems, drainage, pests, ADA compliance, and other material conditions. It is not a substitute for inspections or warranties a buyer or tenant may wish to obtain, and it is not a warranty of any kind by the seller, landlord or any agent. The Seller or Landlord completes Parts 1–3; the Buyer or Tenant acknowledges receipt.

Source: TXR
Form Number: 1408
Category: Disclosure
Revised: July 8, 2022

Used For

Commercial Sales, COMMERCIAL_LEASING

Form Outline

The TXR 1408 form is organized into the following sections:

  1. Concerning the Property At
    Identifies the property. Repeated in the "Commercial Property Condition Statement concerning ___" header of pages 2–5. The printed notice states that this is a disclosure of the Seller's or Landlord's knowledge as of the date signed, not a substitute for inspections or warranties, and not a warranty of any kind; the term "Landlord" includes sublessors.
  2. PART 1 – Complete if Property is Improved or Unimproved
    Are you (Seller or Landlord) aware of: — mark Aware or Not Aware for every item (1)–(19). Items (8), (13) and (19) have follow-up blanks. If you are aware of any of the conditions listed, explain at the end of the Part (attach additional information if needed).
  3. PART 2 – Complete if Property is Improved or Unimproved (flood)
    Are you (Seller or Landlord) aware of any of the following conditions*: — mark Aware or Not Aware for (1)–(9); items (5)–(9) also ask "Located ❑ wholly ❑ partly". Items (10) and (11) are "❑ yes ❑ no" questions with their own explanation blanks. *If Buyer or Tenant is concerned about these matters, Buyer or Tenant may consult Information About Flood Hazards (TXR 1414); the paper prints the definitions of 100-year floodplain, 500-year floodplain, flood pool, flood insurance rate map, floodway and reservoir.
  4. PART 3 – Complete only if Property is Improved — A. Material defects
    A. Are you (Seller or Landlord) aware of any material defects in any of following on the Property? Mark Aware, Not Aware or Not Appl. for every item under (1) Structural Items, (2) Plumbing Systems, (3) HVAC Systems, (4) Electrical Systems and (5) Other Systems or Items. If you are aware of material defects in any of the items listed under Paragraph A, explain (attach additional information if needed).
  5. PART 3 – B. Water, drainage, structural, pest, mold, fire, permit and ADA conditions
    B. Are you (Seller or Landlord) aware of: — mark Aware or Not Aware for (1)–(11). If aware of a mold remediation certificate (7), attach a copy. If you are aware of any of conditions described under Paragraph B, explain (attach additional information, if needed).
  6. Signatures and Receipt Acknowledgment
    Left column: Seller or Landlord (entity or individual name, two lines) with two signatory blocks — "By:" (the person or entity signing on its behalf), "By (signature):", "Printed Name:" and "Title:". Right column: "The undersigned acknowledges receipt of the foregoing statement." Buyer or Tenant, with the same two signatory blocks. The "By (signature)" lines are e-sign tabs placed when the document is sent; the paper prints no "Date" beside them. NOTICE TO BUYER OR TENANT: the brokers have relied on this statement as true and correct; you are encouraged to have an inspector of your choice inspect the Property.

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