Matters arising after form delivered; requirement to disclose at
settlement; unknown or unavailable information
Sec. 12. (a) An owner does not violate this chapter if the owner
subsequently discovers that the disclosure form is inaccurate as a
result of any act, circumstance, information received, or agreement
subsequent to the delivery of the disclosure form. However, at or
before settlement, the owner is required to disclose any material
change in the physical condition of the property or certify to the
purchaser at settlement that the condition of the property is
substantially the same as it was when the disclosure form was
provided.
(b) If at the time disclosures are required to be made under
subsection (a) an item of information required to be disclosed is
unknown or not available to the owner, the owner may state that the
information is unknown or may use an approximation of the
information if the approximation is clearly identified, is reasonable,
is based on the actual knowledge of the owner, and is not used to
circumvent the disclosure requirements of this chapter.
As added by P.L.2-2002, SEC.6.
Last modified: May 24, 2006