OLR Bill Analysis
AN ACT CONCERNING THE DISCLOSURE OF LEASED ITEMS IN REAL ESTATE TRANSACTIONS.
This bill requires the written residential condition report used in residential real estate transactions to include a statement listing all leased items on the residential property, including propane tanks and security system hardware.
EFFECTIVE DATE: January 1, 2010
BACKGROUND
Residential Condition Report
State law requires real estate sellers to give prospective purchasers a residential condition report before the binder or contract is executed in a residential real estate transaction (i. e. , sale, exchange, or lease with option to buy). The report discloses information about the property and environmental matters, such as lead and radon (CGS § 20-327b).
Related Bills
The Insurance and Real Estate Committee favorably reported sHB 6114, which requires residential condition reports to include a statement that a person may contact the town clerk for compliance requirements for municipally-designated historic property or property located in a historic district or village.
COMMITTEE ACTION
General Law Committee
Joint Favorable
Yea |
15 |
Nay |
2 |
(03/03/2009) |