Senate Bill sb2018
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Florida Senate - 2003 SB 2018
By Senator Diaz de la Portilla
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1 A bill to be entitled
2 An act relating to sales disclosures; creating
3 s. 475.423, F.S.; specifying the transactions
4 that are subject to the requirements of the
5 act; providing definitions; requiring that
6 certain disclosures be made by the transferor
7 or his or her agent with respect to real
8 property located within a flood hazard area, an
9 area with severe constraints for development,
10 an area having sinkhole activity, a wellhead
11 protection area, a priority wetland zone, a
12 habitat conservation area, an airport influence
13 area, an environmental site, or a radon gas
14 zone; providing that the waiver of such
15 requirements is against public policy;
16 providing certain exceptions; specifying the
17 form to be used as the Property Identification
18 Disclosure Statement; providing requirements
19 for identifying information that accompanies
20 the disclosure statement; prohibiting the use
21 of the disclosure statement by certain entities
22 other than the transferor, the transferor's
23 agents, and the transferee; providing
24 requirements for delivery of the required
25 disclosure statement; providing a limitation
26 with respect to liability for errors,
27 inaccuracy, or omissions; requiring a third
28 party that provides information with respect to
29 the disclosure statement to maintain a
30 specified amount of insurance protection;
31 providing that certain subsequent inaccuracies
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1 with respect to the information disclosed are
2 not a violation of the act; requiring that
3 disclosures be made in good faith; providing
4 that the act does not limit or abridge other
5 disclosures required by law; authorizing the
6 amendment of a disclosure; providing for
7 delivery of disclosures; providing requirements
8 for the licensee or broker acting as an agent
9 in a transaction subject to the act; providing
10 an effective date.
11
12 Be It Enacted by the Legislature of the State of Florida:
13
14 Section 1. Section 475.423, Florida Statutes, is
15 created to read:
16 475.423 Property identification disclosure
17 statement.--
18 (1)(a) Except as provided in subsection (2), this
19 section applies to any transfer by sale, exchange, or
20 installment land sale contract of residential, undeveloped, or
21 commercial land, wherein one party agrees to convey title to
22 real property to another party upon the satisfaction of
23 specified conditions set forth in the contract and which does
24 not require conveyance of title within 1 year after the date
25 of formation of the contract, lease with an option to
26 purchase, any other option to purchase, ground lease coupled
27 with improvements of any real property described in paragraph
28 (c), or residential stock cooperative, improved with or
29 consisting of not less than one or more than four dwelling
30 units.
31
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1 (b) Except as provided in subsection (2), this section
2 applies to a resale transaction for a manufactured home
3 classified as personal property and intended for use as a
4 residence and to a mobile home classified as personal property
5 intended for use as a residence if the real property on which
6 the manufactured home or mobile home is located is real
7 property as described in paragraph (c). As used in this
8 section, the term "manufactured home" means a structure,
9 transportable in one or more sections, which, in the traveling
10 mode, is 8 body feet or more in width, or 40 body feet or more
11 in length, or, when erected on site, is 320 or more square
12 feet, and which is built on a permanent chassis and designed
13 to be used as a dwelling with or without a permanent
14 foundation when connected to the required utilities, and
15 includes the plumbing, heating, air conditioning, and
16 electrical systems contained therein. In addition, the term
17 includes any structure that meets all the requirements of this
18 paragraph except for the size requirements and with respect to
19 which the manufacturer voluntarily files a certification and
20 complies with the standards established under this section.
21 The term "manufactured home" also includes a mobile home that
22 is subject to the National Manufactured Housing Construction
23 and Safety Act of 1974, 42 U.S.C., Sec. 5401, et seq. The term
24 "mobile home" does not include a commercial coach,
25 factory-built housing, or a recreational vehicle.
26 (c) This section applies to the transactions described
27 in paragraphs (a) and (b). The transferor or his or her agent
28 is required by one or more of the following to disclose the
29 property's location within an applicable zone:
30 1. A person who is either acting as an agent for a
31 transferor of real property that is located within a special
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1 flood hazard area, which is any type Zone "A" or "V" as
2 designated by the Federal Emergency Management Agency, or is
3 the transferor, if he or she is acting without an agent, shall
4 disclose to any prospective transferee the fact that the
5 property is located within a special flood hazard area if:
6 a. The transferor, or the transferor's agent, has
7 actual knowledge that the property is within a special flood
8 hazard area; or
9 b. The local jurisdiction has compiled a list, by
10 parcel, of properties that are within the special flood hazard
11 area and a notice has been posted at the office of the county
12 planning agency which identifies the location of the parcel
13 list.
14 2. A person who is acting as an agent for a transferor
15 of real property that is located on soils with very severe
16 constraints for development, or the transferor, if he or she
17 is acting without an agent, shall disclose to any prospective
18 transferee the fact that the property is located on soils with
19 very severe constraints for development pursuant to maps
20 issued by the United States Department of Agriculture or other
21 readily available and officially adopted governmental maps and
22 information if:
23 a. The transferor, or the transferor's agent, has
24 actual knowledge that the property is on soils with very
25 severe constraints for development; or
26 b. The local jurisdiction has maps that identify
27 properties that are located on soils with very severe
28 constraints for development.
29 3. A person who is acting as an agent for a transferor
30 of real property that is located in an area impacted by
31 sinkhole activity, or the transferor if he or she is acting
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1 without an agent, shall disclose to any prospective transferee
2 the fact that the property is located in an area impacted by
3 sinkhole activity pursuant to readily available and officially
4 adopted governmental maps and information if:
5 a. The transferor, or the transferor's agent, has
6 actual knowledge that the property is in an area impacted by
7 sinkhole activity; or
8 b. The local jurisdiction has maps that identify
9 properties that are located in an area impacted by sinkhole
10 activity.
11 4. A person who is acting as an agent for a transferor
12 of real property that is located within one quarter of a mile
13 of a wellhead protection area, or the transferor if he or she
14 is acting without an agent, shall disclose to any prospective
15 transferee the fact that the property is located within one
16 quarter of a mile of a wellhead protection area according to
17 maps issued by the Department of Environmental Protection or a
18 water management district or other readily available and
19 officially adopted governmental maps and information if:
20 a. The transferor, or the transferor's agent, has
21 actual knowledge that the property is located within one
22 quarter of a mile of a wellhead protection area; or
23 b. The local jurisdiction has maps that identify
24 properties that are located within one quarter of a mile of a
25 wellhead protection area.
26 5. A person who is acting as an agent for a transferor
27 of real property that is located in a priority wetland zone,
28 or the transferor if he or she is acting without an agent,
29 shall disclose to any prospective transferee the fact that the
30 property is located in a priority wetland zone pursuant to
31 maps issued by the Fish and Wildlife Conservation Commission
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1 or other readily available and officially adopted governmental
2 maps and information if:
3 a. The transferor, or the transferor's agent, has
4 actual knowledge that the property is located in a priority
5 wetland zone; or
6 b. The local jurisdiction has maps that identify
7 properties that are located in a priority wetland zone.
8 6. A person who is acting as an agent for a transferor
9 of real property that is located in a strategic habitat
10 conservation area, or the transferor if he or she is acting
11 without an agent, shall disclose to any prospective transferee
12 the fact that the property is located in a strategic habitat
13 conservation area pursuant to maps issued by the Fish and
14 Wildlife Conservation Commission or other readily available
15 and officially adopted governmental maps and information if:
16 a. The transferor, or the transferor's agent, has
17 actual knowledge that the property is located in a strategic
18 habitat conservation area; or
19 b. The local jurisdiction has maps that identify
20 properties that are located in a strategic habitat
21 conservation area.
22 7. A person who is acting as an agent for a transferor
23 of real property that is located within 2 statute miles of an
24 airport influence area or a landing facility approved by the
25 Federal Aviation Administration, or the transferor if he or
26 she is acting without an agent, shall disclose to any
27 prospective transferee the fact that the property is located
28 within 2 statute miles of an airport influence area or a
29 landing facility approved by the Federal Aviation
30 Administration, the Department of Transportation, Division of
31 Aeronautics, and local land use commission if:
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1 a. The transferor, or the transferor's agent, has
2 actual knowledge that the property is located within 2 statute
3 miles of an airport influence area or a landing facility
4 approved by the Federal Aviation Administration; or
5 b. The local jurisdiction has maps that identify
6 properties that are located within 2 statute miles of an
7 airport influence area or a landing facility approved by the
8 Federal Aviation Administration.
9 8. A person who is acting as an agent for a transferor
10 of real property that is located within a quarter of a mile of
11 an environmental site, limited to filed governmental reports,
12 or the transferor if he or she is acting without an agent,
13 shall disclose to any prospective transferee the fact that the
14 property is located within a quarter of a mile of an
15 environmental site, including leaking underground storage
16 tanks, solid waste landfills, incinerators or transfer
17 stations, national priority list sites, or CERCLIS sites under
18 review by the United States Environmental Protection Agency
19 if:
20 a. The transferor, or the transferor's agent, has
21 actual knowledge that the property is located within a quarter
22 of a mile of an environmental site; or
23 b. The local jurisdiction has maps that identify
24 properties that are within a quarter of a mile of an
25 environmental site.
26 9. A person who is acting as an agent for a transferor
27 of real property that is located within a mapped radon gas
28 potential zone pursuant to maps issued by the United States
29 Environmental Protection Agency or other readily available and
30 officially adopted governmental maps and information shall
31 disclose to any prospective transferee the fact that the
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1 property is located within a mapped radon gas potential zone
2 if:
3 a. The transferor, or the transferor's agent, has
4 actual knowledge that the property is located in a mapped
5 radon gas potential zone; or
6 b. The local jurisdiction has maps that identify
7 properties that are mapped in a radon gas potential zone.
8 (d) Any waiver of the requirements of this section is
9 void as against public policy.
10 (2)(a) This section does not apply to the following
11 transfers:
12 1. Transfers pursuant to court order, including, but
13 not limited to, transfers ordered by a probate court in
14 administration of an estate, transfers pursuant to a writ of
15 execution, transfers by any foreclosure sale, transfers by a
16 trustee in bankruptcy, transfers by eminent domain, and
17 transfers resulting from a decree for specific performance.
18 2. Transfers to a mortgagee by a mortgagor or
19 successor in interest who is in default, transfers to a
20 beneficiary of a deed of trust by a trustor or successor in
21 interest who is in default, transfers by any foreclosure sale
22 after default, transfers by any foreclosure sale after default
23 in an obligation secured by a mortgage, transfers by a sale
24 under a power of sale or any foreclosure sale under a decree
25 of foreclosure after default in an obligation secured by a
26 deed of trust or secured by any other instrument containing a
27 power of sale, or transfers by a mortgagee or a beneficiary
28 under a deed of trust who has acquired the real property at a
29 sale conducted pursuant to a power of sale under a mortgage or
30 deed of trust or a sale pursuant to a decree of foreclosure or
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1 has acquired the real property by a deed in lieu of
2 foreclosure.
3 3. Transfers by a fiduciary in the course of the
4 administration of a decedent's estate, guardianship,
5 conservatorship, or trust.
6 4. Transfers from one coowner to one or more other
7 coowners.
8 5. Transfers made to a spouse, or to a person or
9 persons in the lineal line of consanguinity of one or more of
10 the transferors.
11 6. Transfers between spouses resulting from a judgment
12 of dissolution of marriage or of legal separation of the
13 parties or from a property settlement agreement incidental to
14 that judgment.
15 7. Transfers or exchanges to or from any governmental
16 entity.
17 (b) Transfers not subject to this section may be
18 subject to other disclosure requirements. In transfers that
19 are not subject to this section, agents may make required
20 disclosures in a separate writing.
21 (3)(a) The disclosures required by this section are
22 set forth in, and shall be made on a copy of, the following
23 Property Identification Disclosure Statement:
24
25 PROPERTY IDENTIFICATION DISCLOSURE STATEMENT
26
27 This statement applies to the following property:
28 _____________________
29
30 The transferor and his or her agent(s) disclose the following
31 information with the knowledge that even though this is not a
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1 warranty, prospective transferees may rely on this information
2 in deciding whether and on what terms to purchase the subject
3 property.
4
5 Transferor hereby authorizes any agent(s) representing any
6 principal(s) in this action to provide a copy of this
7 statement to any person or entity in connection with any
8 actual or anticipated sale of the property.
9
10 The following are representations made by the transferor and
11 his or her agent(s) based on their knowledge and official maps
12 and information prepared by the state and federal governments.
13 This information is a disclosure and is not intended to be
14 part of any contract between the transferee and transferor.
15
16 THIS REAL PROPERTY LIES WITHIN THE FOLLOWING AREA(S):
17
18 (1) A SPECIAL FLOOD HAZARD AREA (Any type Zone "A" or
19 "V") designated by the Federal Emergency Management Agency.
20 Yes _____ No _____ Do not know and information not
21 available from local jurisdiction _____ Pending _____
22
23 (2) ON SOILS WITH VERY SEVERE CONSTRAINTS FOR
24 DEVELOPMENT, pursuant to maps issued by the United States
25 Department of Agriculture or other readily available and
26 officially adopted governmental maps and information.
27 Yes _____ No _____ Do not know and information not
28 available from local jurisdiction _____ Pending _____
29
30
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1 (3) AN AREA IMPACTED BY SINKHOLE ACTIVITY pursuant to
2 readily available and officially adopted governmental maps and
3 information.
4 Yes _____ No _____ Do not know and information not
5 available from local jurisdiction _____ Pending _____
6
7 (5) A PRIORITY WETLAND ZONE pursuant to maps issued by
8 the Fish and Wildlife Conservation Commission or other readily
9 available and officially adopted governmental maps and
10 information.
11 Yes _____ No _____ Do not know and information not
12 available from local jurisdiction _____ Pending _____
13
14 (6) A STRATEGIC HABITAT CONSERVATION AREA pursuant to
15 maps issued by the Fish and Wildlife Conservation Commission
16 or other readily available and officially adopted governmental
17 maps and information.
18 Yes _____ No _____ Do not know and information not
19 available from local jurisdiction _____ Pending _____
20
21 (7) WITHIN A QUARTER MILE OF AN AIRPORT INFLUENCE AREA
22 approved by the Federal Aviation Administration, the
23 Department of Transportation, Division of Aeronautics, and
24 local land use commission or other readily available and
25 officially adopted governmental maps and information.
26 Yes _____ No _____ Do not know and information not
27 available from local jurisdiction _____ Pending _____
28
29 (8) WITHIN A QUARTER OF A MILE OF AN ENVIRONMENTAL
30 HAZARD SITE including Leaking Underground Storage Tanks, Solid
31 Waste Landfills, Incinerators or Transfer Stations, National
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1 Priority List Sites, and/or CERCLIS Sites under review by the
2 United States Environmental Protection Agency.
3 Yes _____ No _____ Do not know and information not
4 available from local jurisdiction _____ Pending _____
5
6 (9) WITHIN A MAPPED RADON GAS POTENTIAL ZONE pursuant
7 to maps issued by the US Environmental Protection Agency or
8 other readily available and officially adopted governmental
9 maps and information.
10 Yes _____ No _____ Do not know and information not
11 available from local jurisdiction _____ Pending _____
12
13 THESE ZONES MAY LIMIT YOUR ABILITY TO DEVELOP THE REAL
14 PROPERTY, TO OBTAIN INSURANCE, OR TO RECEIVE ASSISTANCE AFTER
15 A DISASTER.
16
17 THE MAPS AND INFORMATION ON WHICH THESE DISCLOSURES ARE BASED
18 ESTIMATE WHERE THE APPLICABLE ZONES AND PROTECTED LANDS EXIST.
19 THEY ARE NOT DEFINITIVE INDICATORS OF WHETHER OR NOT A
20 PROPERTY WILL BE AFFECTED BY A NATURAL OR ENVIRONMENTAL
21 DISASTER. TRANSFEREE(S) AND TRANSFEROR(S) MAY WISH TO OBTAIN
22 PROFESSIONAL ADVICE REGARDING THESE AND OTHER HAZARDS AND
23 PROTECTION ZONES THAT MAY AFFECT THE PROPERTY.
24
25 Transferor represents that the information herein is true and
26 correct to the best of the transferor's knowledge as of the
27 date signed by the transferor.
28
29 Signature of Transferor __________________ Date ____________
30
31 Signature of Transferor __________________ Date ____________
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1
2 Agent represents that the information herein is true and
3 correct to the best of the agent's knowledge as of the date
4 signed by the agent.
5
6 Signature of Transferor's Agent ______________ Date
7 _________________
8
9 Signature of Transferor's Agent ______________ Date
10 _________________
11
12 Transferee represents that he or she has read and understands
13 this document.
14
15 Signature of Transferee ______________________ Date
16 ________________
17
18 Signature of Transferee ________________________ Date
19 ________________
20 (b) If a map or accompanying information is not of
21 sufficient accuracy or scale that a reasonable person can
22 determine if the subject real property is included in an
23 applicable area, the transferor or transferor's agent shall
24 mark "Yes" on the Property Identification Disclosure
25 Statement. The transferor or transferor's agent may mark "No"
26 on the Property Identification Disclosure Statement if he or
27 she attaches a report prepared pursuant to paragraph (5)(c)
28 which verifies that the property is not in the applicable
29 zone. This paragraph does not limit or abridge any existing
30 duty of the transferor or the transferor's agents to exercise
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1 reasonable care in making a determination under this
2 subsection.
3 (c) If the Federal Emergency Management Agency has
4 issued a Letter of Map Revision confirming that a property is
5 no longer within a special flood hazard area, the transferor
6 or transferor's agent may mark "No" on the Property
7 Identification Disclosure Statement, even if the map has not
8 yet been updated.
9 (d) If the Federal Emergency Management Agency has
10 issued a Letter of Map Revision confirming that a property is
11 within a special flood hazard area and the location of the
12 letter has been posted then the transferor or transferor's
13 agent shall mark "Yes" on the Property Identification
14 Disclosure Statement, even if the map has not yet been
15 updated.
16 (f) The disclosure required by this section is a
17 disclosure only between the transferor, the transferor's
18 agents, and the transferee, and may not be used by any other
19 party, including, but not limited to, insurance companies,
20 lenders, or governmental agencies, for any purpose.
21 (g) In any transaction in which a transferor has
22 accepted, prior to the effective date of this section, an
23 offer to purchase, the transferor, or his or her agent, shall
24 be deemed to have complied with the requirement of paragraph
25 (a) if the transferor or agent delivers to the prospective
26 transferee a statement that includes substantially the same
27 information and warning as the Property Identification
28 Disclosure Statement.
29 (4)(a) The transferor of any real property subject to
30 this section shall deliver to the prospective transferee the
31 written statement required by this section, as follows:
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1 1. In the case of a sale, as soon as practicable
2 before transfer of title.
3 2. In the case of transfer by a real property sales
4 contract or by a lease together with an option to purchase, or
5 a ground lease coupled with improvements, as soon as
6 practicable before execution of the contract. For the purpose
7 of this subparagraph, "execution" means the making or
8 acceptance of an offer.
9 (b) The transferor shall indicate compliance with this
10 section either on the receipt for deposit, the real property
11 sales contract, the lease, any addendum attached thereto, or
12 on a separate document.
13 (c) If any disclosure, or any material amendment of
14 any disclosure, required to be made pursuant to this section
15 is delivered after the execution of an offer to purchase, the
16 transferee shall have 3 days after delivery in person or 5
17 days after delivery by deposit in the mail to terminate his or
18 her offer by delivery of a written notice of termination to
19 the transferor or the transferor's agent.
20 (5)(a) Neither the transferor nor any listing or
21 selling agent shall be liable for any error, inaccuracy, or
22 omission of any information delivered pursuant to this section
23 if the error, inaccuracy, or omission was not within the
24 personal knowledge of the transferor or the listing or selling
25 agent, and was based on information timely provided by public
26 agencies or by other persons providing information as
27 specified in paragraph (c) which is required to be disclosed
28 pursuant to this section, and ordinary care was exercised in
29 obtaining and transmitting the information.
30 (b) The delivery of any information required to be
31 disclosed by this section to a prospective transferee by a
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1 third party providing information required to be disclosed
2 pursuant to this section shall be deemed to comply with the
3 requirements of this section and shall relieve the transferor
4 or any listing or selling agent of any further duty under this
5 section with respect to that item of information.
6 (c) The delivery of a report or opinion prepared by a
7 licensed engineer, land surveyor, or expert in locating the
8 applicable zones on readily available official governmental
9 maps and information concerning matters within the scope of
10 the professional's license or expertise is sufficient
11 compliance for application of the exemption provided by
12 paragraph (a) if the information is provided to the
13 prospective transferee pursuant to a request therefore,
14 whether written or oral. In responding to that request, an
15 expert may indicate, in writing, an understanding that the
16 information provided will be used in fulfilling the
17 requirements of subsection (3) and, if so, shall indicate the
18 required disclosures, or parts thereof, to which the
19 information being furnished is applicable. If that statement
20 is furnished, the expert is not responsible for any items of
21 information, or parts thereof, other than those expressly set
22 forth in the statement.
23 (d) A third party providing the information on behalf
24 of the transferor and the transferor's agent fulfilling the
25 requirements of subsection (3) to be disclosed by this section
26 shall maintain a minimum of $20 million of insurance
27 protection to protect the transferor and the agents for any
28 errors or omissions made by the third party.
29 (6)(a) After a transferor and his or her agent comply
30 with subsection (3), they are relieved of further duty under
31 this section with respect to those items of information. The
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1 transferor and his or her agent are not required to provide
2 notice to the transferee if the information provided
3 subsequently becomes inaccurate as a result of any
4 governmental action, map revision, changed information, or
5 other act or occurrence, unless the transferor or agent has
6 actual knowledge that the information has become inaccurate.
7 (b) If information disclosed in accordance with this
8 section is subsequently rendered inaccurate as a result of any
9 governmental action, map revision, changed information, or
10 other act or occurrence subsequent to the delivery of the
11 required disclosures, the inaccuracy resulting therefrom does
12 not constitute a violation of this section.
13 (7) Each disclosure required by this section and each
14 act that may be performed in making the disclosure shall be
15 made in good faith. For purposes of this section, "good faith"
16 means honesty in fact in the conduct of the transaction.
17 (8) The specification of items for disclosure in this
18 section does not limit or abridge any obligation for
19 disclosure created by any other provision of law or that may
20 exist in order to avoid fraud, misrepresentation, or deceit in
21 the transfer transaction. The Legislature does not intend to
22 affect the existing obligations of the parties to a real
23 estate contract, or their agents, or to disclose any fact
24 materially affecting the value and desirability of the
25 property, including, but not limited to, the physical
26 condition of the property and previously received reports of
27 physical inspection.
28 (9) Any disclosure made pursuant to this section may
29 be amended in writing by the transferor or his or her agent,
30 but the amendment shall be subject to subsection (4).
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1 (10) Delivery of disclosures required by this section
2 shall be by personal delivery to the transferee or by mail to
3 the prospective transferee. For the purposes of this section,
4 delivery to the spouse of a transferee shall be deemed
5 delivery to the transferee, unless provided otherwise by
6 contract.
7 (11) Any person or entity, other than a real estate
8 licensee licensed in this state and acting in the capacity of
9 an escrow agent for the transfer of real property subject to
10 this section, shall not be deemed the agent of the transferor
11 or transferee for purposes of the disclosure requirements of
12 this section unless the person or entity is empowered to so
13 act by an express written agreement to that effect. The extent
14 of that agency shall be governed by the written agreement.
15 (12)(a) If more than one licensed real estate broker
16 is acting as an agent in a transaction subject to this
17 section, the broker who has obtained the offer made by the
18 transferee shall, except as otherwise provided in this
19 section, deliver the disclosure required by this section to
20 the transferee, unless the transferor has given other written
21 instructions for delivery.
22 (b) If a licensed real estate broker responsible for
23 delivering the disclosures under this section cannot obtain
24 the disclosure document required and does not have written
25 assurance from the transferee that the disclosure has been
26 received, the broker shall advise the transferee in writing of
27 his or her rights to the disclosure. A licensed real estate
28 broker responsible for delivering disclosures under this
29 section shall maintain a record of the action taken to effect
30 compliance of the transaction.
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1 (13) A transfer subject to this section may not be
2 invalidated solely because of the failure of any person to
3 comply with any provision of this section. However, any person
4 who willfully or negligently violates or fails to perform any
5 duty prescribed by any provision of this section shall be
6 liable in the amount of actual damages suffered by a
7 transferee.
8 (14)(a) As used in this section, the term "listing
9 agent" means an individual who has obtained a listing of
10 property of the kind in respect of which he or she is
11 authorized by law to act as an agent for compensation.
12 (b) As used in this section, the term "selling agent"
13 means an individual who acts in cooperation with a listing
14 agent and who sells, or finds and obtains a buyer for, the
15 property.
16 Section 2. This act shall take effect July 1, 2003.
17
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19 SENATE SUMMARY
20 Requires that a transferor or his or her agent make
certain disclosures with respect to the sale or transfer
21 of real property and certain manufactured homes and
mobile homes. Requires that property located within a
22 flood hazard area, an area with severe constraints for
development, an area having sinkhole activity, a wellhead
23 protection area, a priority wetland zone, a habitat
conservation area, an airport influence area, an
24 environmental site, or a radon gas zone be identified by
use of a Property Identification Disclosure Statement.
25 Provides requirements for the form. Requires that third
parties providing information for purposes of such
26 disclosures maintain a minimum of $20 million in
insurance protection. (See bill for details.)
27
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