AB580-AA3,2,5
4710.12 Disclosure regarding managed forest land. If real property, or any
5portion of the real property, that is being sold will, after the sale, continue to be
6subject to an order designating it as managed forest land under subch. VI of ch. 77,
7the owner of the property shall, no later than 10 days after the acceptance by the
8owner of the contract of sale or of the option contract, provide a written disclosure
9to the prospective buyer that the real property will continue to be subject to the order
10after the property is transferred. The disclosure shall explain that terms of orders
11designating managed forest land are for 25 or 50 years. The disclosure shall state
12that the division of forestry in the department of natural resources monitors
13management plan compliance under the managed forest land program, and shall
1provide information as to how to contact the division of forestry. The disclosure shall
2contain the following statement: "Changes you make to property that is subject to
3an order designating it as managed forest land, or to its use, may jeopardize your
4benefits under the program or may cause the property to be withdrawn from the
5program and may result in the assessment of penalties."".
AB580-AA3,2,9
7"
(6m) Real estate disclosure. The treatment of section 710.12 of the statutes
8first applies to acceptances of contracts of sale or of option contracts that occur on the
9effective date of this subsection.".
AB580-AA3,2,13
11"
(3) Real estate disclosure. The treatment of section 710.12 of the statutes
12and
Section 81 (6m) of this act take effect on the first January 1 beginning after
13publication.".
