Does selling to family still require the same disclosure schedules as selling to a stranger?

Yes, and skipping them is one of the more common mistakes in family sales. Disclosure schedules attach to the representations and warranties in a purchase agreement, qualifying and detailing things like contracts, liabilities, employees, and litigation — they exist to give the buyer an accurate picture of what they're actually acquiring, and that need doesn't disappear just because the buyer is your child.

If anything, a family buyer may be less likely to conduct the kind of independent due diligence a stranger would insist on, which makes accurate disclosure even more important rather than less. Proper disclosure schedules also protect the seller, by narrowing what the buyer can later claim wasn't disclosed. Treating a family sale as a handshake deal without proper representations, warranties, and disclosure schedules leaves both sides more exposed if problems surface later. A lawyer can help scale the paperwork appropriately to a family transaction without dropping the protections that actually matter to both the parent and the child.