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IN SB0411
Bill
Status
2/24/2015
Primary Sponsor
James Merritt
Click for details
AI Summary
SB 411 Summary
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Licensees are not liable for merely transporting, transmitting, or delivering documents related to real estate transactions.
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Licensees are not liable for reports or statements by third parties (including inspection reports and surveys) unless the report was made by someone employed by the licensee, specifically selected and hired by the licensee, or the licensee knew before closing that the report was false or acted in reckless disregard of its accuracy.
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Licensees are not liable for information in seller's real estate disclosure forms prepared under IC 32-21-5 unless the licensee signed the form or knew before closing that the information was false or acted in reckless disregard.
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Licensees are not liable for information obtained from their client, governmental entities, persons relaying governmental information, or licensed/certified professionals they rely on, unless the licensee knew the information was false or acted in reckless disregard before closing.
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Adds IC 25-34.1-6-4 to the list of statutes granting immunity from civil liability under IC 34-30-2-60.7; effective July 1, 2015.
Legislative Description
Liability of a real estate licensee. Provides that a licensed real estate broker is not liable for certain real estate related reports, statements, or information except in certain circumstances. Adds a reference to the list of statutes that grant immunity from civil liability.
Last Action
First Reading: referred to Committee on Judiciary
3/3/2015