§ 5-20.8-1. Definitions. When used in this chapter, unless the context indicates otherwise: (1) “Agent” means any individual or entity acting on behalf of a seller or buyer to effect the transfer of real estate. It includes listing agent, selling agent, buyer’s agent, and their respective brokers. (2) “Agreement to transfer” means a purchase and […]
§ 5-20.8-10. Subsequent acts. If information disclosed in accordance with this chapter is subsequently rendered inaccurate as a result of any act, passage of time, occurrence, or agreement subsequent to the delivery of the required disclosures, the resulting inaccuracy does not constitute a violation of this chapter. If at the time the disclosures are required […]
§ 5-20.8-11. Lead inspection requirement. (a) Every contract for the purchase and sale of residential real estate (1-4 family)-built prior to 1978 located in the state shall provide that potential purchasers be permitted a ten-day (10) period, unless the parties mutually agree upon a different period of time, to conduct a risk assessment or inspection […]
§ 5-20.8-12. Private well testing requirement. (a) Every contract for the purchase and sale of real estate located in the state, and which is served by a private water supply (well), shall provide that potential purchasers shall be permitted a ten-day (10) period, unless the parties mutually agree upon a different period of time, to […]
§ 5-20.8-13. Cesspool inspection requirement. (a) Every contract for the purchase and sale of real estate that is or may be served by a private cesspool, shall provide that potential purchasers be permitted a ten-day (10) period, unless the parties mutually agree upon a different period of time, to conduct an inspection of a property’s […]
§ 5-20.8-2. Disclosure requirements. (a) As soon as practicable, but in any event no later than prior to signing any agreement to transfer real estate, the seller of the real estate shall deliver a written disclosure to the buyer and to each agent with whom the seller knows he or she or the buyer has […]
§ 5-20.8-3. Exemptions. The following transfers are exempt from the provisions of this chapter: (1) Transfer pursuant to a court order, including, but not limited to, transfer ordered by a probate court in administration of an estate, transfer pursuant to a writ of execution, transfer by a trustee in bankruptcy, transfer by eminent domain, and […]
§ 5-20.8-4. Buyer’s rights to inspection. (a) Every contract for the purchase and sale of real estate shall provide that a potential purchaser or potential purchasers shall be permitted a ten-day (10) period, exclusive of Saturdays, Sundays, and holidays, to conduct inspections of the property and any structures thereon before the purchaser(s) becomes obligated under […]
§ 5-20.8-5. Real estate disclosure form acknowledgement — Inclusion in real estate sales agreements — Penalty for violation. (a) Every agreement for the purchase and sale of residential real estate located in the state shall contain an acknowledgement that a completed real estate disclosure form has been provided to the buyer by the seller. (b) […]
§ 5-20.8-6. Disclosure of psychologically impacted property. (a) The fact or suspicion that real property may be or is psychologically impacted is not a material fact requiring disclosure in any real estate transaction. “Psychologically impacted” means an impact being the result of facts or suspicions including, but not limited to, the following: (1) That an […]
§ 5-20.8-7. Public agency notification. Any information required to be disclosed by this chapter to a prospective buyer by a public agency is deemed to comply with the requirements of this chapter and relieves the seller or agent of any further duty under this chapter as to that item of information. History of Section.P.L. 1992, […]
§ 5-20.8-8. Expert report. (a) The delivery of a report or opinion prepared by an engineer, land surveyor, geologist, home inspector, pest control operator, contractor, or other expert, dealing with matters within the scope of the professional’s license or expertise, is sufficient compliance to qualify for the exemption provided by § 5-20.8-9. An expert may […]
§ 5-20.8-9. Seller and agent liability. Neither the seller nor agent is liable for any error, inaccuracy, or omission of any information delivered pursuant to this chapter if the error, inaccuracy, or omission was not within the personal knowledge of the seller or agent; was based on information timely provided pursuant to §§ 5-20.8-7 and […]
