AB681: Bill Text

LRB-3483/1

MJL:lmk:rs

2005 - 2006 LEGISLATURE

2005 Assembly BILL 681

September 22, 2005 - Introduced by Representatives Gottlieb, Mursau, Kreibich, Gielow, Suder, Musser, Jeskewitz, Freese, Underheim, Ott, Albers, Hundertmark, Van Roy, Hines, Bies, Gunderson and Pettis, cosponsored by Senators Harsdorf and Roessler. Referred to Committee on Housing.

AB681,1,3 An Act to create 709.03 (form) D. 1m. of the statutes; relating to: disclosing whether methamphetamine has been manufactured on residential real property.

Analysis by the Legislative Reference Bureau

Under current law, with certain exceptions, owners who wish to sell residential real property must give prospective buyers a form, known as a real estate condition report, on which the owner discloses whether he or she is aware of various specified conditions, mostly defects, of the real property. The form also includes some additional information, such as how long the owner has lived on the property, and a notice that the prospective buyer and the owner may wish to obtain professional advice or inspections of the property.

This bill adds to the real estate condition report the requirement that the owner disclose whether he or she is aware that methamphetamine has been manufactured on the real property.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB681, s. 1 Section 1. 709.03 (form) D. 1m. of the statutes is created to read:

AB681,1,5 709.03 (form)

AB681,2,1 D. 1m. I am aware that methamphetamine .... .... ....

AB681,2,3 has been manufactured on the property.

AB681, s. 2 Section 2. Initial applicability.

AB681,2,7 (1) This act first applies to written disclosures and real estate condition reports that are furnished after a contract of sale or option contract acceptance that occurs on the effective date of this subsection.

AB681,2,8 (End)