HB 2092 Summary

• Allows licensed escrow agents to record executed disclosure affidavits on behalf of sellers at the time the deed is recorded, protecting escrow agents from liability for inaccurate information in the affidavit.

• Adds two new disclosure requirements to the affidavit form: the date an on-site wastewater treatment facility was last inspected and the date a septic tank was last pumped (if applicable).

• Expands exemptions from providing disclosure affidavits to include personal representatives of estates selling property, in addition to trustees and officers conducting foreclosure or execution sales.

• Requires sellers of subdivision trusts (as defined in section 6-801) to have the beneficiary provide the disclosure affidavit instead of the trustee.

• Adds a new disclosure item regarding properties sold pursuant to trustee's sales, execution sales, mortgage foreclosures, or estate sales, noting that those sellers are exempt from providing an affidavit and advising buyers to investigate unknown items.