US Laws, Codes, Statutes & Cases

     513.55 General disclosure requirements. 

    Subdivision 1.    Contents.  (a) Before signing an 
 agreement to sell or transfer residential real property, the 
 seller shall make a written disclosure to the prospective 
 buyer.  The disclosure must include all material facts of which 
 the seller is aware that could adversely and significantly 
 affect: 

    (1) an ordinary buyer's use and enjoyment of the property; 
 or 

    (2) any intended use of the property of which the seller is 
 aware.  

    (b) The disclosure must be made in good faith and based 
 upon the best of the seller's knowledge at the time of the 
 disclosure.  

    Subd. 2.    Disclosure to licensee.  A seller may 
 provide the written disclosure required under sections 513.52 to 
 513.60 to a real estate licensee representing or assisting the 
 prospective buyer.  The written disclosure provided to the real 
 estate licensee representing or assisting the prospective buyer 
 is considered to have been provided to the prospective buyer.  
 If the written disclosure is provided to the real estate 
 licensee representing or assisting the prospective buyer, the 
 real estate licensee shall provide a copy to the prospective 
 buyer.  

    HIST: 2002 c 306 s 4; 2004 c 203 art 1 s 5 

Copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.