What must be included in the disclosure statement for residential property in Georgia?

The inclusion of any known material defects that could affect the value of the property is essential in the disclosure statement for residential property in Georgia. This requirement is aimed at protecting buyers by ensuring they are informed of significant issues that might impact their decision to purchase the property. State law mandates that sellers disclose known defects or issues that could affect the habitability or value of the home. By providing this information, sellers contribute to a transparent transaction and help buyers make informed choices.

In terms of the other options, while renovations might be relevant, they do not encompass the broader disclosure obligation regarding material defects. Information about previous owners do not necessarily relate to the property's current conditions and can be less relevant to prospective buyers. The square footage of the property, while important for determining space and size, does not fall under the category of material defects that must be disclosed. Thus, the focus on material defects is a critical element of the disclosure process, emphasizing the seller’s responsibility to ensure the buyer is aware of any issues that may affect their investment.