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MI HB4905
Bill
Status
5/25/2021
Primary Sponsor
Amos O'Neal
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AI Summary
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Amends Michigan's Seller Disclosure Act to update the required disclosure form by changing language from "shall" to "must" in multiple instances for consistency in legal terminology.
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Adds new question 11 requiring sellers to disclose whether the property is located in an inundation zone and, if yes, whether the seller provided the buyer with a map showing the property's location in that zone.
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Renumbers subsequent disclosure questions (flood insurance becomes question 12, mineral rights becomes question 13) and updates "Other Items" section formatting.
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Makes minor grammatical and stylistic edits throughout the disclosure form including capitalization changes (e.g., "Range/Oven" to "Range/oven," "City Water System" to "City water system").
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Clarifies that a form printed before January 1, 2006 that was compliant at that time may continue to be used and is considered compliant until April 1, 2006.
Legislative Description
Property: land sales; reference to property being located in an inundation zone; require in seller disclosure. Amends sec. 7 of 1993 PA 92 (MCL 565.957).
Property: land sales
Last Action
Bill Electronically Reproduced 05/25/2021
5/26/2021