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Fair Disclosure and Airport Impact Statements in Real Estate Transfers (2012)

Chapter: APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS

« Previous: APPENDIX A: REAL ESTATE FAIR DISCLOSURE LAW
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
×
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
×
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
×
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
×
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
×
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
×
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
×
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Suggested Citation:"APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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43 APPENDIX B Matrix of Residential Real Property Statutory Disclosure Provisions (Except as noted in Appendix C, the statutes do not specifically refer to airports) Definition of Real Property Defining residential real property to be property having one to four dwelling units Alaska Stat. § 34.70.200 (2010) Del. Code Ann. tit. 6, § 2571 (2010) Haw. Rev. Stat. § 508D-1 (2010) 765 Ill. Comp. Stat. 77/5 (2010) Me. Rev. Stat. Ann., tit. 33, § 171(6) (West 2010) Md. Ann. Code, Real Prop. § 10-702(b)(1) (2010) Mich. Comp. Laws § 565.952, § 2 (2010) Miss. Code Ann. § 89-501(1) (2010) Neb. Rev. Stat. § 76-2,120(1)(c) (2010) Nev. Rev. Stat. § 113.100(4) (2010) N.C. Gen. Stat. § 47E-1 (2010) Pa. Cons. Stat. tit. 68, § 7302 (2010) S.C. Code Ann. § 27-50-10(8) (2010) S.D. Codified Laws Ann. § 43-4-37 (2010) Tenn. Code Ann. § 66-5-201 (2010) Va. Code Ann. § 55-517 (Michie 2010) Wash. Rev. Code § 64.06.005 (2010) Stating specifically that disclosure is in- applicable to vacant or unimproved land Minn. Stat. § 513.54(1) (2010) Md. Ann. Code, Real Prop. § 10-702(b)(2)(vii) (2010) Miss. Code Ann. § 89-1-501(h) (2010) Timing of Disclosure Requiring disclosure before or at the time of a buyer’s offer to purchase or on or before the exe- cution of a real estate contract Alaska Stat. §§ 34.70.010(a) and (b) (2010) Cal. Civ. Code §§ 1102.3(a) and (b) and 1102.12 (West 2010) Conn. Gen. Stat. § 20-327b(a) (2010) Del. Code Ann. tit. 6, §§ 2572(b) and 2573 (2010) Haw. Rev. Stat. §§ 508D-4(1)(A) and (B)

44 and 508D-4(2) (2010) Idaho Code § 55-2509 (2010) 765 Ill. Comp. Stat. 77/20 (2010) Ind. Code Ann. § 32-21-5-10(a) (Burns 2010) Iowa Code § 558A.2(1) (2010) La. Rev. Stat. Ann. § 9:3198B.(2) (West 2010) Me. Rev. Stat. Ann. tit 33, § 174(1) (West 2010) Md. Ann. Code, Real Prop. § 10- 702(e)(4)(f)(1) (2010) Mich. Comp. Laws § 565.954, § 4(1) (2010) Miss. Code Ann. §§ 89-1-503(a) and (b) (2010) Neb. Rev. Stat. § 76-2,2120(7) (2010) Nev. Rev. Stat. §§ 113.070(2), 113.080(1), and 113.130(1) (2010) N.J. Stat. Ann. § 46:3C-8 (2010) N.Y. Real Prop. § 462 (Consol. 2010) N.C. Gen. Stat. § 47E-5(a) (2010) Ohio Rev. Code Ann. §§ 5302.30(C) and 5302.30(I) (Baldwin 2010) Okla. Stat. §§ 60-834(A) and (D) (2010) Or. Rev. Stat. § 105.464 (2010) R.I. Gen. Laws §§ 5-20.8-2(a) and 5-20.8-5(a) (2010) S.D. Codified Laws Ann. § 43-4-38 (2010) Tenn. Code Ann. § 66-5-203(a) (2010) Va. Code Ann. § 55-520(A) (Michie 2010) Wash. Rev. Code § 64.06.030 (2010) Wis. Stat. § 709.02(1) (2010) Requiring that the disclosure statement be made a part of the real estate contract Del. Code Ann. tit. 6 § 2573 (2010) Me. Rev. Stat. Ann. tit. 33, § 176(1) (West 2010) Ind. Code Ann. § 32-21-5-7(3) (Burns 2010) N.Y. Real Prop. Law § 462 (Consol. 2010) R.I. Gen. Laws §§ 5-20.8-2(a) and 5-20.8-5(a) (2010) Amendments Requiring a seller to amend a disclosure statement that has become inaccurate or when Alaska Stat. § 34.70-040 Cal. Civ. Code § 1102.5 (West 2010)

45 there has been a material change affecting the property Idaho Code § 558A.3(2) (2010) Me. Rev. Stat. Ann. tit. 33, § 175(2) (West 2010) Minn. Stat. § 513.58, Subd. 1 (2010) N.Y. Real Prop. Law § 464 (Consol. 2010) N.C. Gen. Stat. § 47E-7 (2010) Ohio Rev. Code Ann. § 5302.30(G) (Baldwin 2010) Okla. Stat. § 60-834(C) (2010) Pa. Cons. Stat. tit. 68, §§ 7307 and 7312 (2010) Tenn. Code Ann. § 66-5-205 (2010) Va. Code Ann. § 55-522 (Michie 2010) Wash. Rev. Code § 64.06.040(1) (2010) Waiver of the Statutory Requirements Permitting a buyer to waive a disclo- sure statement Alaska Stat. § 34.70.110 (2010) Me. Rev. Stat. Ann., tit. 33, § 174(4) (West 2010) Minn. Stat. § 513.60 (2010) N.Y. Real Prop. Law § 462 (Consol. 2010) S.C. Code Ann. § 27-50-110 (2010) Tenn. Code Ann. § 66-5-202(2) (2010) Wash. Rev. Code § 64.06.010(7) (2010) Prohibiting a buyer’s waiver of disclosure Cal. Civ. Code § 1102(c) (West 2010) Md. Ann. Code, Real Prop. § 10-702(K)(1) (2010) Wash. Rev. Code § 64.06.010(7) (2010) (not permitting waiver of environmental section) Seller’s Duty to Disclose Limited Actual or Personal Knowledge Providing that a seller or seller’s agent is not li- able for errors or omissions regarding matters of which the seller or agent had no actual or per- sonal knowledge or for information supplied by governmental agencies that a seller or agent pro- vides to a buyer Cal. Civ. Code § 1102.4(a) (West 2010) Conn. Gen. Stat. § 20-327c (2010) Ga. Code Ann. § 10-6A-5(b)(2) (2010) (applica- ble to brokers) Haw. Rev. Stat. § 508D-9(1) (2010) Idaho Code § 55-2507 (2010) 765 Ill. Comp. Stat. 77/25(b) (2010)

46 Ind. Code Ann. § 32-21-5-11(a) (Burns 2010) La. Rev. Stat. Ann. § 9:3198E.(2) (West 2010) Me. Rev. Stat. tit. 33, § 177(1) (2010) Md. Ann. Code, Real Prop. §§ 10-702(e)(2) (viii) and 10-702(e)(3)(iv)(1) and (2) (2010) Mich. Comp. Laws § 565.955, § 5(1) (2010) Minn. Stat. § 513.57, Subd. 1 (2010) Miss. Code Ann. § 89-1-505 (2010) Neb. Rev. Stat. § 76-2,120(8) (2010) Nev. Rev. Stat. § 113.150(5)(a) (2010) N.C. Gen. Stat § 47E-4 (2010) Ohio Rev. Code Ann. § 5302.30(F)(1) (Baldwin 2010) Okla. Stat. §§ 60-833(B)(1) and 60-835(C) (2010) Pa. Cons. Stat. tit. 68 § 7309(b) (2010) R.I. Gen. Laws §§ 5-20.8-2(a) and 5-20.8-9 (2010) S.C. Code Ann. §§ 27-50-40(B) and (C) (2010) Tenn. Code Ann. §§ 66-5-204(a) and (b) (2010) Va. Code Ann. § 55-521(A) (Michie 2010) Wash. Rev. Code § 64.06.050(1) (2010) Expert Report in Lieu of Disclosure Statement Permitting a seller to provide a buyer with an expert’s report in lieu of a disclosure statement Cal. Civ. Code § 1102.4(c) (West 2010) Md. Code Ann., Real Prop. § 10-702(j)(1) (2010) Mich. Comp. Laws § 565.955, § 5(3) (2010) Minn. Stat. § 513.53, Subd. 3 (2010) Miss. Code Ann. § 89-1-505(3) (2010) Nev. Rev. Stat. § 113.150(5)(b) (2010) N.C. Gen. Stat. § 47E-6 (2010) R.I. Gen. Laws § 5-20.8-8(a) (2010) Tenn. Code Ann. § 66-5-204 (2010) Va. Code Ann. § 55-521(C) (Michie 2010) Wis. Stat. § 709.02(1) (2010)

47 Disclosure Statement Not a Warranty Stating that a disclosure statement does not constitute a warranty to a buyer Conn. Gen. Stat. § 20-327b(d)(2)(D) (2010) Del. Code Ann. tit. 6, § 2574 (2010) Md. Code Ann., Real Prop. §§ 10- 702(e)(3)(iv)(1) and (2) and (i)(1) (2010) Seller’s Good Faith or Honesty in Fact Requiring a seller to make disclosure in good faith, meaning “honesty in fact” Alaska Stat. § 34.70.060 (2010) Cal. Civ. Code § 1102.7 (West 2010) Haw. Rev. Stat. § 508D-7 (2010) Idaho Code §§ 55-2507(5) and 55-2516 (2010) La. Rev. Stat. Ann. § 9:3198B.(1) (West 2010) Mich. Comp. Laws § 565.960, § 10 (2010) Minn. Stat. § 513.55, Subd. 1(b) (2010) Miss. Code Ann. § 89-1-511 (2010) Ohio Rev. Code Ann. § 5302.30 (Baldwin 2010) S.D. Codified Laws Ann. § 43-4-41 (2010) Disclosure as Precluding a Seller’s Liability Providing that a seller’s compliance with dis- closure requirements precludes liability for de- fects or conditions affecting the property Alaska Stat. § 34.70.030 (2010) Cal. Civ. Code § 1102.9 (West 2010) Del. Code Ann. tit. 6, § 2575(1) and (2) (2010) Haw. Rev. Stat. § 508D-13 (2010) Pa. Cons. Stat. tit. 68, § 7314 (2010) Va. Code Ann. § 55-521(B) (Michie 2010)

48 Transfers Exempt from Disclosure Requirements Exempting a first sale of property that has never been occupied or inhabited Alaska Stat. § 34.70.120 Conn. Gen. Stat. § 20-3276(b)(4) (2010) Haw. Rev. Stat. § 508D-3(6) (2010) Idaho Code § 55-2505(12) (2010) 765 Ill. Comp. Stat. 77/15(9) (2010) Ind. Code Ann. § 32-21-5-1(b)(8) (Burns 2010) Ky. Rev. Stat. Ann. § 324.360(7) (2010) Md. Code Ann., Real Prop. § 10- 702(b)(2)(i)(1) (2010) Minn. Stat. § 513.54 (10) (2010) Neb. Rev. Stat. § 76-2,120(6)(k) (2010) N.Y. Real Prop. Law § 463(12) (Consol. 2010) N.C. Gen. Stat. § 47E-2(9) (2010) Ohio Rev. Code Ann. § 5302.30(B)(2)(l) (Baldwin 2010) Okla. Stat. § 60-838(9) (2010) R.I. Gen. Laws § 5-20.8-3(8) (2010) S.C. Code Ann. § 27-50-30(10) (2010) S.D. Codified Laws Ann. § 43-44-43(6) (2010) Tenn. Code Ann. § 66-5-209(9) (2010) Va. Code Ann. § 55-518(9) (Michie 2010)

49 Exempting other transfers including transfers pursuant to a court order; transfers to a mort- gagee resulting from a default under a mortgage or because of a foreclosure sale; transfers by a fi- duciary; transfers between co-owners or spouses; and some transfers to or from a governmental en- tity, as well as other transfers Cal. Civ. Code §§ 1102.2(b), (c), (d), (e), (f), (g), and (j) (West 2010) Conn. Gen. Stat. 392 § 20-327b(b) (2010) Del. Code Ann. tit. 6, §§ 2577(1)-(9) (2010) Haw. Rev. Stat. §§ 508D-3(1)-(8) (2010) Iowa Code §§ 558A.1(4) (a)-(h) (2010) Me. Rev. Stat. Ann., tit. 33, §§ 172(1)-(12) (West 2010) Md. Code Ann., Real Prop. §§ 10-02(b)(i)(2)(ii-(vii) (2010) Mich. Comp. Laws §§ 565.953, § 3(a)-(i) (2010) Miss. Code Ann. § 89-1-501(2)(g) (2010) Neb. Rev. Stat. §§ 76-2,120(6)(a)-(l) (2010) Nev. Rev. Stat. §§ 113.115(3)(a)-(d) (2010) N.Y. Real Prop. Law §§ 463(1)-(14) (Consol. 2010) N.C. Gen. Stat. §§ 47E-2(1)-(11) (2010) Ohio Rev. Code Ann. §§ 5302.30(B)(2)(a)-(n) (Baldwin 2010) Okla. Stat. § 60-838(A)(1) (2010) R.I. Gen. Laws §§ 5-20.8-3(1)-(10) (2010) S.C. Code Ann. §§ 27-50-30(1)-(15) (2010) S.D. Codified Laws Ann. §§ 43-4-43(1)-(6) (2010) Tenn. Code Ann. §§ 66-5-209(1)-(12) (2010) Va. Code Ann. §§ 55-518(1)-(9) (Michie 2010) Wash. Rev. Code §§ 64.06.010(1)-(7) (2010) Wis. Stat. §§ 709.01(2)(a)-(d) (2010)

50 Disclosure of All Material Facts or Off-Site Conditions Affecting Property Requiring a seller to disclose all material de- fects of which the seller is aware that could ad- versely and significantly affect an ordinary buyer’s use and enjoyment of the property or any intended use of the property of which the seller is aware Del. Code Ann. tit. 6, § 2572(a) (2010); Haw. Rev. Stat. § 508D-1 (2010) Idaho Code § 55-2508 (2010) 765 Ill. Comp. Stat. 77/30(1) (2010) Minn. Stat. § 513.55, Subds. 1(a)(1) and (2) (2010) Requiring a seller to disclose that a property is near a former federal or state ordnance loca- tion; an industrial use; adverse physical condi- tions within 1 mi that could not be discovered by a buyer upon a diligent inspection; or agricul- tural operations Cal. Civ. Code §§ 1102.15, 1107.17 (West 2010) Ga. Code Ann. §§ 10-6A-5(b)(1) and (2) (2010) Nev. Rev. Stat. §§ 113.065(1) and (3) (2010) Wash. Rev. Code § 64.06.022 (2010) Requiring disclosure of matters relating to zon- ing and land-use affecting a property N.C. Gen. Stat. § 47E-4(b)(5) (2010) Nev. Rev. Stat. § 113.070(1) (2010) Buyer’s Obligation to Inspect Property Stating that disclosure does not relieve a buyer of a duty to inspect property or obtain pro- fessional advice Del. Code Ann. tit. 6, § 2574 (2010) Ga. Code Ann. § 10-6A-5(b)(2) (2010) Idaho Code § 55-2507(4) (2010) Ohio Rev. Code Ann. § 5302.30(D)(1) (Baldwin 2010) Haw. Rev. Stat., § 508D-1(3) (2010) Idaho Stat. § 55-2507(3) (2010) Ind. Code Ann. § 32-21-5-9 (Burns 2010) Ky. Rev. Stat. Ann. § 324.360(7) (2010) La. Rev. Stat. Ann. § 3198(D)(1) (West 2010) Me. Rev. Stat. Ann. tit. 33, § 176(1) (West 2010) Mich. Comp. Laws § 565.951, § 7(1) (2010) Miss. Code Ann. § 89-1-509 (2010) Neb. Rev. Stat. §§ 76-2,121(3)(e), (f), and (g) (2010)

51 Nev. Rev. Stat. §§ 113.130 and 113.140(3) (2010) Ohio Rev. Stat. Ann. § 5302.30(D)(1) (2010) Okla. Stat. §§ 60-832(10) and 60-833(B)(2)(c) (2010) Or. Rev. Stat. § 105.464 (2010) R.I. Gen. Laws § 5-20.8-2(b) (2010) S.C. Code Ann. § 27-50-80 (2010) S.D. Codified Laws Ann. § 43-4-44 (2010) Tenn. Code Ann. §§ 66-5-201 and 66-5-210 (2010) Va. Code Ann. § 55-518(B) (Michie 2010) Wash. Rev. Code § 64.06.015 (2010) Effect of Nondisclosure on a Transfer of Real Property Providing that nondisclosure does not in- validate a transfer of property or create a defect in title Alaska Stat. § 34.70.090(a) (2010) Cal. Civ. Code § 1102.13 (West 2010) Idaho Code § 55-2517 (2010) Ind. Code Ann. §§ 32-21-5-7(3) and 32-21-5-10(c) (Burns 2010) Iowa Code § 558A.8 (2010) La. Rev. Stat. Ann. § 9:3198B.1(3)(c) (West 2010) Me. Rev. Stat. Ann. tit. 33, § 176(1) (West 2010) Mich. Comp. Laws § 565.964, § 14 (2010) Minn. Stat. § 513.59 (2010) Miss. Code Ann. § 89-1-523 (2010) Neb. Rev. Stat. § 76-2,120(11) (2010) Ohio Rev. Code Ann. § 5302.30(K)(1) (Baldwin 2010) Okla. Stat. § 60-837(E) (2010) Pa. Cons. Stat. tit. 68, § 7311(a) (2010) R.I. Gen. Laws § 5-20.8-5(b) (2010) (creates no defect in title) S.C. Code Ann. § 27-50-50(B) (2010) S.D. Codified Laws Ann. § 43-4-42 (2010) Buyer’s Right to Withdraw Offer or Rescind Sales Contract Permitting a buyer to withdraw an offer or Alaska Stat. § 34.70.020 (2010)

52 rescind a sales contract because of a seller’s noncompliance Cal. Civ. Code § 1102.3 (West 2010) Haw. Rev. Stat. § 508D-16(b) (2010) 765 Ill. Comp. Stat. 77/40 (2010) La. Rev. Stat. § 9:3198B.3(a) (2010) Me. Rev. Stat. Ann. tit. 33, § 174(2) (West 2010) Mich. Comp. Laws § 565.954, § 4 (2010) Nev. Rev. Stat. §§ 113.130(b)(1) and 113.150(1) and (2) (2010) N.C. Gen. Stat. § 47E-5(b) (2010) Ohio Rev. Code Ann. § 5302.30(K)(2) (Baldwin 2010) Or. Rev. Stat. § 105.475(1) (2010) R.I. Gen. Laws §§ 5-20.8-4(a) and (b)(1) and (2) (2010) S.D. Codified Laws Ann. §§ 43-4-38 and 43-4- 39 (2010) Va. Code Ann. § 55-520(B) (Michie 2010) Wash. Rev. Code §§ 64.06.030 and 64.06.040(3) (2010) Buyer’s Right to Rescind After Transfer of Title Permitting a buyer to rescind after the trans- fer of property because of a seller’s noncompli- ance Haw. Rev. Stat. § 508D-6(2) (2010) 765 Ill. Comp. Stat. 77/40 (2010) Md. Code Ann., Real Prop. § 10-702(k)(2)(i) (2010) Buyer’s Other Remedies Permitting a buyer to sue for a seller’s noncompliance or to pursue other remedies under state law Alaska Stat. § 34.70.070 (2010) Cal. Civ. Code §§ 1102.1(a), 1102.8, and 1102.13 (West 2010) Haw. Rev. Stat § 508D-14 (2010) Idaho Code § 55-2514 (2010) 765 Ill. Comp. Stat. 77/45 (2010) La. Rev. Stat. Ann. § 9:3198B.(d) (West 2010) Me. Rev. Stat. Ann. tit. 33, § 178 (West 2010) Minn. Stat. § 513.57, Subd. 3 (2010) Ohio Rev. Code Ann. §§ 5302.30(J) and (L) (Baldwin 2010)

53 Pa. Cons. Stat. tit. 68, § 7313(a) (2010) Wash. Rev. Code § 64.06.070 (2010) Recovery of Damages Permitting a buyer to claim actual damages for a seller’s noncompliance Alaska Stat. §§ 34.70.090(b) and (c) (2010) Haw. Rev. Stat. § 508D-16(c) (2010) Idaho Code § 55-2517 (2010) 765 Ill. Comp. Stat. 77/55 (2010) Iowa Code § 558A.6 (2010) Minn. Stat. § 513.57, Subd. 2 (2010) Miss. Code Ann. § 89-1-523 (2010) Neb. Rev. Stat § 76-2,120(12) (2010) N.Y. Real Prop. Law § 465(2) (Consol. 2010) Okla. Stat. § 60-837(B) (2010) Pa. Cons. Stat. tit. 68, § 7311(a) (2010) S.D. Codified Laws Ann. § 43-4-42 (2010) Tenn. Code Ann. § 66-5-208(a)(1) (2010) Va. Code Ann. § 55-524(B)(2) (Michie 2010) Recovery of Civil Penalty Permitting recovery of civil penalty for a seller’s noncompliance Nev. Rev. Stat. § 113.150(4) (2010) R.I. Gen. Laws § 5-20.8-5 (2010) S.C. Code Ann. § 27-50-65 (2010) N.Y. Real Prop. Law § 465(1) (Consol. 2010) Attorney’s Fees and Costs Permitting a buyer to recover attorney’s fees and costs for a seller’s noncompliance Alaska Stat. § 34.70.090(d) (2010) Haw. Rev. Stat. § 508D-16(c) (2010) 765 Ill. Comp. Stat. 77/25 (2010) Neb. Rev. Stat. § 76-2,120(12) (2010) Nev. Rev. Stat. § 113.150(4) (2010) Okla. Stat. § 60-837(D) (2010) S.C. Code Ann. § 27-50-65 (2010) S.D. Codified Laws Ann. § 43-4-42 (2010)

54 Statute of Limitations Providing for a 1- or 2-year statute of limi- tations commencing from the date of the buyer’s receipt of the disclosure statement, the date of settlement, or the date of occu- pancy of leased property Haw. Rev. Stat. § 508D-17 (2010) (2 years) 765 Ill. Comp. Stat. 77/60 (2010) (1 year) Neb. Rev. Stat. § 76-2,120(12) (2010) (1 year) Minn. Stat. § 513.57, Subd. 2 (2010) (2 years) Okla. Stat. § 60-837(c) (2010) (2 years) Pa. Cons. Stat. tit. 68, §§ 7311, 7311(b) (2010) (2 years) Tenn. Code Ann. § 66-5-208(a)(1) (2010) (1 year) Va. Code Ann. § 55-524(C) (Michie 2010) (1 year)

Next: APPENDIX C: MATRIX OF STATE AIRPORT DISCLOSURE PROVISIONS »
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TRB’s Airport Cooperative Research Program (ACRP) Legal Research Digest 12: Fair Disclosure and Airport Impact Statements in Real Estate Transfers examines the effect of a state or locality having no real property disclosure laws, explores existing general state real property disclosure laws, and discusses existing state real property disclosure laws specifically requiring the disclosure of airports in close proximity to the property being offered for sale.

The report also highlights annotated typical fair real property disclosure law provisions including provisions considered important for effective fair disclosure of airport-related impacts.

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