What does transferor liability and transferee rights typically pertain to upon disclosure?

Transferor liability and transferee rights pertain to the obligations and responsibilities that arise when ownership of property is transferred from one party to another. Specifically, in the context of real estate transactions, the transferor (the seller or previous owner) may be held liable for any undisclosed issues related to the property, such as defects, zoning issues, or other legal concerns that could impact the property’s value or usability. This concept emphasizes the need for thorough disclosure by the transferor to protect the rights of the transferee (the buyer or new owner).

When the transferee is made aware of transferred rights and liabilities, they have the right to seek recourse or compensation if any undisclosed issues come to light after the transfer has occurred. Thus, the core emphasis lies in the transferor's liability for undisclosed property issues and the transferee's rights to be informed before the transaction is finalized.