AB391: Bill Text

LRB-0198/4

JS:kmg:jlb

1995 - 1996 LEGISLATURE

1995 Assembly BILL 391

May 23, 1995 - Introduced by Representatives Wood, Hahn, Baldus, R. Young, Grobschmidt, Robson, Lorge, Freese and Baldwin, cosponsored by Senators Burke and Plewa. Referred to Committee on Housing.

AB391,1,2 An Act to amend 709.03 of the statutes; relating to: disclosures of conditions of residential real estate.

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 on which the owner discloses certain conditions. Under this bill, disclosure of historic structures and of inclusion in historic districts continues to be done in a separate entry on the form but that entry is moved to indicate that these conditions are not defects.

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

AB391, s. 1 Section 1. 709.03 of the statutes is amended to read:

AB391,1,5 709.03 Report form. The report required under s. 709.02 shall be in the following form:

AB391,1,6 REAL ESTATE CONDITION REPORT

AB391,2,4 THIS CONDITION 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.

AB391,2,5 OWNER'S INFORMATION

AB391,2,10 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 significantly shorten or adversely affect the expected normal life of the premises.

AB391,2,16 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 or not 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.

AB391,2,21 The owner represents that to the best of his or her knowledge the following statements have been accurately noted as correct, incorrect or not applicable to the property being sold. If the owner indicates that any statement is correct, the owner shall indicate, in the additional information area of this form, an explanation of the reason why the statement is correct.

AB391,2,22 CORRECT INCORRECT N/A

AB391,2,23 1. .... .... .... I am aware of defects in the roof.

AB391,2,25 2. .... .... .... I am aware of defects in the electrical system.

AB391,3,4 3. .... .... .... I am aware of defects in part of the plumbing system (including the water heater, water softener and swimming pool) that is included in the sale.

AB391,3,8 4. .... .... .... I am aware of defects in the heating and air conditioning system (including the air filters and humidifiers).

AB391,3,10 5. .... .... .... I am aware of defects in the well, including unsafe well water.

AB391,3,12 6. .... .... .... I am aware that this property is served by a joint well.

AB391,3,15 7. .... .... .... I am aware of defects in the septic system or other sanitary disposal system.

AB391,3,22 8. .... .... .... I am aware of underground fuel storage tanks on the property. (If correct, the owner, by law, must report the location to the department of industry, labor and human relations at P.O. Box 7969, Madison, Wisconsin, 53707.)

AB391,4,3 9. .... .... .... I am aware of an "LP" tank on the property. (If correct, specify in the additional information space whether or not the owner of the property either owns or leases the tank.)

AB391,4,6 10. .... .... .... I am aware of defects in the basement or foundation (including cracks, seepage and bulges).

AB391,4,9 11. .... .... .... I am aware that the property is located in a floodplain, wetland or shoreland zoning area.

AB391,4,11 12. .... .... .... I am aware of defects in the structure of the property.

AB391,4,15 13. .... .... .... I am aware of defects in mechanical equipment included in the sale either as fixtures or personal property.

AB391,4,19 14. .... .... .... I am aware of boundary or lot line disputes, encroachments or encumbrances (including a joint driveway).

AB391,5,3 15. .... .... .... I am aware of a defect caused by unsafe concentrations of, or unsafe conditions relating to, radon, radium in water supplies, lead in paint, lead in soil, lead in water supplies or plumbing system or other potentially hazardous or toxic substances on the premises.

AB391,5,6 16. .... .... .... I am aware of the presence of asbestos or asbestos-containing materials on the premises.

AB391,5,11 17. .... .... .... I am aware of a defect caused by unsafe concentrations of, unsafe conditions relating to, or the storage of hazardous or toxic substances on, neighboring properties.

AB391,5,15 18. .... .... .... I am aware that a structure on the property is designated as a historic building or that a part of the property is in a historic district.

AB391,5,18 19. .... .... .... I am aware of current or previous termite, powder-post beetle or carpenter ant infestations.

AB391,5,20 20. .... .... .... I am aware of defects in a woodburning stove or fireplace.

AB391,6,2 21. .... .... .... I am aware either that remodeling affecting the property's structure or mechanical systems was done or that additions to this property were made during my period of ownership without the required permits.

AB391,6,6 22. .... .... .... I am aware of federal, state or local regulations requiring repairs, alterations or corrections of an existing condition.

AB391,6,9 23. .... .... .... I have received notice of property tax increases, other than normal annual increases.

AB391,6,12 24. .... .... .... I am aware that remodeling that may increase the property's assessed value was done.

AB391,6,14 25. .... .... .... I am aware of proposed or pending special assessments.

AB391,6,18 26. .... .... .... I am aware of the proposed construction of a public project that may affect the use of the property.

AB391,7,2 27. .... .... .... I am aware of subdivision homeowners' associations, common areas coowned with others, zoning violations or nonconforming uses, rights-of-way, easements or another use of a part of the property by nonowners, other than recorded utility easements.

AB391,7,4 28. .... .... .... I am aware of other defects affecting the property.

AB391,7,5 additional information ....

AB391,7,8 .... (yes) .... (no) .... (not applicable) I am aware that a structure on the property is designated as a historic building or that a part of the property is in a historic district.

AB391,7,9 The owner has lived on the property for.... years.