CT SB00270

Requires persons offering commercial real estate for sale or lease in Connecticut to provide a written condition report to prospective purchasers or lessees prior to execution of any binder, contract, option, or lease, effective January 1, 2015.

Exempts transfers between co-owners, family transfers without consideration, court-ordered transfers, foreclosures, transfers by government entities, and transfers under contracts entered into before January 1, 2015.

Directs the Commissioner of Consumer Protection to prescribe the condition report form by regulations no later than July 1, 2015, and to distribute it to town clerks, the Connecticut Association of Realtors, and the public.

Requires sellers or lessors to credit purchasers or lessees with $1,000 at closing or lease execution if the condition report is not provided as required.

Clarifies that representations made in the report extend only to the seller's or lessor's actual knowledge and do not create new warranties or require inspections of the property.