Disclosure form; contents
Sec. 7. The Indiana real estate commission established by
IC 25-34.1-2-1 shall adopt a specific disclosure form that contains
the following:
(1) Disclosure by the owner of the known condition of the
following:
(A) The foundation.
(B) The mechanical systems.
(C) The roof.
(D) The structure.
(E) The water and sewer systems.
(F) Additions that may require improvements to the sewage
disposal system.
(G) Other areas that the Indiana real estate commission
determines are appropriate.
(2) A notice to the prospective buyer that contains substantially
the following language:
"The prospective buyer and the owner may wish to obtain
professional advice or inspections of the property and provide
for appropriate provisions in a contract between them
concerning any advice, inspections, defects, or warranties
obtained on the property.".
(3) A notice to the prospective buyer that contains substantially
the following language:
"The representations in this form are the representations of the
owner and are not the representations of the agent, if any. This
information is for disclosure only and is not intended to be a
part of any contract between the buyer and owner.".
(4) A disclosure by the owner that an airport is located within
a geographical distance from the property as determined by the
Indiana real estate commission. The commission may consider
the differences between an airport serving commercial airlines
and an airport that does not serve commercial airlines in
determining the distance to be disclosed.
As added by P.L.2-2002, SEC.6. Amended by P.L.1-2003, SEC.83.
Last modified: May 24, 2006