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2013 - 2014 LEGISLATURE
October 14, 2013 - Introduced by Senators Cowles,
Lassa, Schultz and Lehman,
cosponsored by Representatives
Petryk, Ballweg, Czaja, Vruwink, Born and
A. Ott. Referred to Committee on Insurance and Housing.
SB344,1,4
1An Act to amend 709.03 (form) C. 8. and 709.033 (form) C. 9.; and
to create
2709.03 (form) C. 9m. and 709.033 (form) C. 9m. of the statutes;
relating to:
3disclosing ownership of a dam to prospective buyers of certain real property and
4updating disclosure reports for certain real property.
Analysis by the Legislative Reference Bureau
Under current law, with certain exceptions, owners selling residential real
property or vacant land must give prospective buyers a form, known as a real estate
condition report for residential real property and as the vacant land disclosure report
for vacant land, on which the owner discloses certain conditions of, and other
information about, the real property of which the owner is aware. This bill requires
an owner to disclose on the applicable report whether the owner has notice or
knowledge that a dam is located on the property or that ownership of a dam that is
collectively owned by a homeowner association, lake district, or other group runs
with the property even though the dam is not located on the property. This bill also
updates the real estate condition report and the vacant land disclosure report to
indicate that the regulation of underground storage tanks was transferred to the
Department of Agriculture, Trade and Consumer Protection.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB344,1
1Section
1. 709.03 (form) C. 8. of the statutes is amended to read:
SB344,2
3Section
2. 709.03 (form) C. 9m. of the statutes is created to read:
SB344,3
1Section
3. 709.033 (form) C. 9. of the statutes is amended to read:
SB344,4
1Section
4. 709.033 (form) C. 9m. of the statutes is created to read:
SB344,5
3Section
5.
Nonstatutory provisions.
SB344,4,114
(1)
Real estate condition and vacant land disclosure reports. 5Notwithstanding section 709.035 of the statutes, the creation of sections 709.03
6(form) C. 9m. and 709.033 (form) C. 9m. of the statutes does not require a property
7owner who has furnished to a prospective buyer of the property an original or
8amended report before the effective date of this subsection to submit an amended
9report with respect to the information required by section 709.03 (form) C. 9m. of the
10statutes, as created by this act, or by section 709.033 (form) C. 9m. of the statutes,
11as created by this act.
SB344,6
12Section
6.
Initial applicability.
SB344,4,1513
(1) The treatment of sections 709.03 (form) C. 8. and 9m. and 709.033 (form)
14C. 9. and 9m. of the statutes first applies to reports that are furnished on the effective
15date of this subsection.
SB344,7
16Section
7.
Effective date.
SB344,5,1
1(1) This act takes effect on July 1, 2014.
