AB163: Bill Text

AB163,4,15 709.033 Vacant land disclosure report form. The report required under s. 709.02 with respect to real property as defined in s. 709.001 (5) (b) shall be in substantially the following form and shall include at least all of the following information:

AB163,4,16 VACANT LAND DISCLOSURE REPORT

AB163,4,17 DISCLAIMER

AB163,5,2 A. THIS DISCLOSURE REPORT CONCERNS THE REAL PROPERTY LOCATED AT .... IN THE .... (CITY) (VILLAGE) (TOWN) OF ...., COUNTY OF ...., STATE OF WISCONSIN. THIS REPORT IS A DISCLOSURE OF THE CONDITION OF THAT PROPERTY IN COMPLIANCE WITH SECTION 709.02 OF THE WISCONSIN STATUTES AS OF .... (MONTH), .... (DAY), .... (YEAR). IT IS NOT A WARRANTY OF ANY KIND BY THE OWNER OR ANY AGENTS REPRESENTING ANY PRINCIPAL IN THIS TRANSACTION AND IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR WARRANTIES THAT THE PRINCIPALS MAY WISH TO OBTAIN.

AB163,5,3 OWNER'S INFORMATION

AB163,5,8 B. 1. In this form, "am aware" means have notice or knowledge. In this form, "defect" means a condition that would have a significant adverse effect on the value of the property; that would significantly impair the health or safety of future occupants of the property; or that if not repaired, removed, or replaced would adversely affect the use of the property.

AB163,5,14 B. 2. The owner discloses the following information with the knowledge that, even though this is not a warranty, prospective buyers may rely on this information in deciding whether and on what terms to purchase the property. The owner hereby authorizes any agent representing any principal in this transaction to provide a copy of this statement, and to disclose any information in the statement, to any person in connection with any actual or anticipated sale of the property.

AB163,5,19 B. 3. The owner represents that to the best of his or her knowledge the responses to the following statements have been accurately noted as "yes," "no," or "not applicable" to the property being sold. If the owner responds to any statement with "yes," the owner shall provide, in the additional information area of this form, an explanation of the reason why the response to the statement is "yes."

AB163,5,23 B. 4. If the transfer is of a condominium unit, the property to which this form applies is the condominium unit, the common elements of the condominium, and any limited common elements that may be used only by the owner of the condominium unit being transferred. - See PDF for table - See PDF for table

AB163,10,1 ADDITIONAL INFORMATION - See PDF for table - See PDF for table - See PDF for table

AB163,11,1 NOTICE REGARDING SEX OFFENDER REGISTRY

AB163,11,5 E. The prospective buyer may obtain information about the sex offender registry and persons registered with the registry by contacting the Wisconsin Department of Corrections at [phone] or by visiting http://www.widocoffenders.org.

AB163,11,6 OWNER'S CERTIFICATION

AB163,11,8 F. The owner certifies that the information in this report is true and correct to the best of the owner's knowledge as of the date on which the owner signs this report.

AB163,11,9 Owner ....                             Date ....

AB163,11,10 Owner ....                             Date ....

AB163,11,12 CERTIFICATION BY PERSON SUPPLYING INFORMATION

AB163,11,16 G. A person other than the owner certifies that he or she has supplied information on which the owner relied for this report and that that information is true and correct to the best of that person's knowledge as of the date on which the person signs this report.

AB163,11,17 Person ....            Items ....            Date ....

AB163,12,1 Person ....            Items ....            Date ....

AB163,12,2 Person ....            Items ....            Date ....

AB163,12,3 NOTICE REGARDING ADVICE OR INSPECTIONS

AB163,12,8 H. THE PROSPECTIVE BUYER AND THE OWNER MAY WISH TO OBTAIN PROFESSIONAL ADVICE OR INSPECTIONS OF THE PROPERTY AND TO PROVIDE FOR APPROPRIATE PROVISIONS IN A CONTRACT BETWEEN THEM WITH RESPECT TO ANY ADVICE, INSPECTIONS, DEFECTS, OR WARRANTIES.

AB163,12,9 BUYER'S ACKNOWLEDGEMENT

AB163,12,12 I. 1. The prospective buyer acknowledges that technical knowledge such as that acquired by professional inspectors may be required to detect certain defects such as floodplain status.

AB163,12,13 I. 2. I acknowledge receipt of a copy of this statement.

AB163,12,14 Prospective buyer ....                        Date ....

AB163,12,15 Prospective buyer ....                        Date ....

AB163,12,16 Prospective buyer ....                        Date ....

AB163, s. 8 Section 8. 709.07 of the statutes is amended to read:

AB163,12,23 709.07 Liability precluded. An owner is not liable for an error or omission in a report under s. 709.03 or 709.033 if the owner had no knowledge of that error or omission, if the error or omission was based on information provided by a public agency, as defined in s. 66.0825 (3) (h), or by a licensed engineer, land surveyor, structural pest control operator, or qualified 3rd party, as defined in s. 452.23 (2) (b), or by a contractor about matters within the scope of the contractor's occupation.

AB163, s. 9 Section 9. Initial applicability.

AB163,13,3 (1) This act first applies to prospective transfers of real property that does not include any buildings for which contracts of sale or option contracts are accepted on the effective date of this subsection.

AB163, s. 10 Section 10. Effective date.

AB163,13,6 (1) This act takes effect on first day of the 7th month beginning after publication.

AB163,13,7 (End)