Businesses and Professions

CHAPTER 5-20.8
Real Estate Sales Disclosures

SECTION 5-20.8-5

§ 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) Failure to provide the seller disclosure form to the buyer does not void the agreement nor create any defect in title. Each violation of this statute by the seller and/or his or her agent is subject to a civil penalty in the amount of one hundred dollars ($100) per occurrence.

History of Section.
(P.L. 1992, ch. 425, § 1.)