Loading chat...

IN HB1255

Bill

Official Source

Status

Introduced

1/14/2013

Primary Sponsor

Randy Truitt

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Shields real estate brokerages from liability for failing to disclose property defects or adverse conditions based solely on knowledge held by an individual broker affiliated with the brokerage
  • Prevents knowledge of repairs or transaction records from one affiliated licensee from being legally imputed to the brokerage or other affiliated licensees
  • Removes the requirement that a residential real estate purchase offer is unenforceable against the buyer until both the owner and buyer have signed the property disclosure form
  • Maintains the requirement that property owners must complete and submit disclosure forms to prospective buyers before accepting an offer
  • Effective date: July 1, 2013

Legislative Description

Real estate matters.

Last Action

First reading: referred to Committee on Judiciary

1/14/2013

Committee Referrals

Judiciary1/14/2013

Full Bill Text

No bill text available