1. "Agent
means a person who is licensed as a real estate broker or a real estate salesperson pursuant to section 440-a of this chapter and is acting in a fiduciary capacity.
2. "Binding contract of sale
means a real estate purchase contract or offer that would, upon signing by the seller and subject to satisfaction of any contingencies, require the buyer to accept a transfer of title.
3. "Knowledge
means only actual knowledge of a defect or condition on the part of the seller of residential real property.
4. "Real estate purchase contract" means any of the following:
(a) a contract which provides for the purchase and sale or exchange of residential real property;
(b) a lease with an option to purchase residential real property;
(c) a lease-with-obligation-to-purchase agreement for residential real property; or
(d) an
5. "Residential real property
means real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons, but shall not refer to (a) unimproved real property upon which such dwel
6. "Transfer of title
means delivery of a properly executed instrument conveying title to residential real property and shall include delivery of a real estate purchase contract that is a lease or installment land sale contract.
Property condition disclosure statement
1. Except as is provided in section 463 of this article, every seller of residential real property pursuant to a real estate purchase contract shall complete and sign a property condition disclosure statement as prescribed by subdivision two of this secti
2. The following shall be the disclosure form:
PROPERTY CONDITION
DISCLOSURE STATEMENT
Name of Seller or Sellers:
Property Address:
The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy thereof to be delivered to a buyer or buyer's agent prior to the signing by th
Exemptions
A property condition disclosure statement shall not be required in connection with any of the following transfers of residential real property
1. A transfer pursuant to a court order, including, but not limited to,
a transfer order by a probate court during the administration of a decedent's estate,
2.a transfer pursuant to a writ of execution,
a transfer by a trustee in bankruptcy or debtor-in-
Revision
If a seller of residential real property acquires knowledge which renders materially inaccurate a property condition disclosure statement provided previously,
the seller shall deliver a revised property condition disclosure statement to the buyer as soon
Remedy
1. In the event a seller fails to perform the duty prescribed in this article to deliver a disclosure statement prior to the signing by the buyer of a binding contract of sale,
*the buyer shall receive upon the transfer of title a credit of $500 against t
Duty of an Agent
An agent representing a seller of residential real property as a listing broker shall have the duty to timely inform each seller represented by that agent of the seller's obligations under this article.
An agent representing a buyer of residential real pr
Liability
Nothing contained in this article shall be construed as limiting any existing legal cause of action or remedy at law, in statute or in equity
UNITED STATES CODE
42 USCA �3604. It shall be unlawful . . .
To make, print, or publish, or cause to be made, printed, or published any notice, statement or advertisement, with respect to the sale or rental of a dwelling that indicates
any preference, limitation, or discrim