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HF 2176

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:00am

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to real property; requiring disclosure of nuisance property to potential
buyers; proposing coding for new law in Minnesota Statutes, chapter 513.


Section 1.

new text begin [513.565] NUISANCE PROPERTIES; DISCLOSURE.
new text end

new text begin (a) Before signing an agreement to sell or transfer commercial or residential real
property that is or has been during the seller's ownership of the property nuisance property,
the seller shall make a written disclosure of this fact to the prospective buyer. For purposes
of this section, a "nuisance property" is real property that has been declared, fined, cited,
or otherwise identified as a problem property or a public nuisance in violation of section
609.745, or other state law, or in violation of a city or county ordinance.
new text end

new text begin (b) A seller may provide the written disclosure required under this section to a
buyer's agent. The written disclosure provided to the buyer's agent is considered to have
been provided to the prospective buyer. If the written disclosure is provided to the buyer's
agent, the buyer's agent shall provide a copy to the prospective buyer. For purposes of
this section, a "buyer's agent" means an attorney or real estate licensee representing or
assisting the prospective buyer.
new text end

new text begin (c) In the case of residential real property, this section is in addition to any
requirements imposed by sections 513.52 to 513.60.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective August 1, 2009, and applies to
purchase agreements entered into on or after that date.
new text end