558A.1 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Agent” means an individual designated by a transferee to accept delivery of a disclosure statement from a transferor. 2. “Broker” means a real estate broker licensed pursuant to chapter 543B. 3. “Commission” means the real estate commission created pursuant to section 543B.8. […]
558A.2 Procedures. 1. A person interested in transferring real property, or a broker or salesperson acting on behalf of the person, shall deliver a written disclosure statement to a person interested in being transferred the real property. The disclosure statement must be delivered prior to either the transferor making a written offer for the transfer […]
558A.3 Good faith and amendments. 1. All information required by this section and rules adopted by the commission shall be disclosed in good faith. If at the time the disclosure is required to be made, information required to be disclosed is not known or available to the transferor, and a reasonable effort has been made […]
558A.4 Required information. 1. a. The disclosure statement shall include information relating to the condition and important characteristics of the property and structures located on the property, including significant defects in the structural integrity of the structure, as provided in rules which shall be adopted by the real estate commission pursuant to section 543B.9. The […]
558A.5 Agency. 1. A person other than a broker or salesperson acting in the capacity of an agent in the transfer of real property shall not be deemed to be an agent of the transferor or transferee for purposes of this chapter, unless the person is granted powers of attorney or is empowered as an […]
558A.6 Liability under the chapter. A person who violates this chapter shall be liable to a transferee for the amount of actual damages suffered by the transferee, but subject to the following limitations: 1. The transferor, or a broker or salesperson, shall not be liable under this chapter for the error, inaccuracy, or omission in […]
558A.7 Chapter is not limiting. The duties imposed upon persons under this chapter or under rules adopted by the real estate commission shall not limit or abridge any duty, requirement, obligation, or liability for disclosure created by another provision of law, or under a contract between parties. 93 Acts, ch 30, §9
558A.8 Validity of a transfer. A transfer under this chapter shall not be invalidated solely because of a failure of a person to comply with a provision of this chapter. 93 Acts, ch 30, §10
