513.52 DEFINITIONS. Subdivision 1. Scope. For purposes of sections 513.52 to 513.60, the terms defined in this section have the meanings given them. Subd. 2. Prospective buyer. “Prospective buyer” means a person negotiating or offering to acquire for value legal or equitable title, or the right to acquire legal or equitable title, to residential real […]
513.53 APPLICABILITY. The seller disclosure requirements in sections 513.52 to 513.60 apply to the transfer of any interest in residential real estate, whether by sale, exchange, deed, contract for deed, lease with an option to purchase, or any other option. History: 2002 c 306 s 2
513.54 EXCEPTIONS. The seller disclosure requirements in sections 513.52 to 513.60 do not apply to any of the following: (1) real property that is not residential real property; (2) a gratuitous transfer; (3) a transfer pursuant to a court order; (4) a transfer to a government or governmental agency; (5) a transfer by foreclosure or […]
513.55 GENERAL DISCLOSURE REQUIREMENTS. Subdivision 1. Contents. (a) Before signing an agreement to sell or transfer residential real property, the seller shall make a written disclosure to the prospective buyer. The disclosure must include all material facts of which the seller is aware that could adversely and significantly affect: (1) an ordinary buyer’s use and […]
513.56 DISCLOSURE NOT REQUIRED. Subdivision 1. General. Section 513.55 does not create a duty to disclose the fact that residential property: (1) is or was occupied by an owner or occupant who is or was suspected to be infected with human immunodeficiency virus or diagnosed with acquired immunodeficiency syndrome; (2) was the site of a […]
513.57 LIABILITY FOR ERROR, INACCURACY, OR OMISSION. Subdivision 1. No liability. Unless the prospective buyer and seller agree to the contrary in writing, a seller is not liable for any error, inaccuracy, or omission of any information delivered under sections 513.52 to 513.60 if the error, inaccuracy, or omission was not within the personal knowledge […]
513.58 AMENDMENT TO DISCLOSURE. Subdivision 1. Notice. A seller must notify the prospective buyer in writing as soon as reasonably possible, but in any event before closing, if the seller learns that the seller’s disclosure required by section 513.55 was inaccurate. Subd. 2. Failure to notify; liability. A seller who fails to notify the prospective […]
513.59 TRANSFER NOT INVALIDATED. A transfer subject to sections 513.52 to 513.60 is not invalidated solely because of the failure of any person to comply with a provision of those sections. This section does not prevent a court from ordering a rescission of the transfer. History: 2002 c 306 s 8
513.60 WAIVER. The written disclosure required under sections 513.52 to 513.60 may be waived if the seller and the prospective buyer agree in writing. Waiver of the disclosure required under sections 513.52 to 513.60 does not waive, limit, or abridge any obligation for seller disclosure created by any other law. History: 2002 c 306 s […]
513.61 RADON DISCLOSURE REQUIREMENTS. A seller of residential real property must comply with the radon disclosure requirements under section 144.496. History: 2013 c 43 s 31
