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82.68

Statute ID: 19972

Real estate - Disclosure Requirements

In Effect

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Details are only available for Penalty and Charging Statutes.

Statute Number:

82.68

Enactment Date:

May 25, 2010

Effective Date:

Aug 1, 2010

Expiration Date:

Repealed?:

Summary Text:

Real estate - Disclosure Requirements

Statute ID:

19972

Created:

Jul 16, 2024 by mnjis.legal.analyst@state.mn.us

Updated:

Jul 16, 2024 by mnjis.legal.analyst@state.mn.us

Last Update Action:

Added

Legal Analyst Comment:

Added per request; 2010 c 384 s 79

Summary Text:

Real estate - Disclosure Requirements

Link to MN Statute Text:

https://www.revisor.leg.state.mn.us/stats/82/68.html

Legislative Session:

2010 - Regular

Session Law Text?:

Statute text last updated on:

Jul 16, 2024

Subd. 3.
 (a) A licensee shall disclose to a prospective purchaser all material facts of which the licensee is aware, which could adversely and significantly affect an ordinary purchaser's use or enjoyment of the property, or any intended use of the property of which the licensee is aware.

(b) It is not a material fact relating to real property offered for sale the fact or suspicion that the property:

(1) is or was occupied by an owner or occupant who is or was suspected to be infected with human immunodeficiency virus or diagnosed with acquired immunodeficiency syndrome;

(2) was the site of a suicide, accidental death, natural death, or perceived paranormal activity; or

(3) is located in a neighborhood containing any adult family home, community-based residential facility, or nursing home.

(c) A licensee or employee of the licensee has no duty to disclose information regarding an offender who is required to register under section 243.166, or about whom notification is made under that section, if the broker or salesperson, in a timely manner, provides a written notice that information about the predatory offender registry and persons registered with the registry may be obtained by contacting local law enforcement where the property is located or the Department of Corrections.

(d) A licensee or employee of the licensee has no duty to disclose information regarding airport zoning regulations if the broker or salesperson, in a timely manner, provides a written notice that a copy of the airport zoning regulations as adopted can be reviewed or obtained at the office of the county recorder where the zoned area is located.

(e) A licensee is not required to disclose, except as otherwise provided in paragraph (f), information relating to the physical condition of the property or any other information relating to the real estate transaction, if a written report that discloses the information has been prepared by a qualified third party and provided to the person. For the purposes of this paragraph, "qualified third party" means a federal, state, or local governmental agency, or any person whom the broker, salesperson, or a party to the real estate transaction reasonably believes has the expertise necessary to meet the industry standards of practice for the type of inspection or investigation that has been conducted by the third party in order to prepare the written report and who is acceptable to the person to whom the disclosure is being made.

(f) A licensee shall disclose to the parties to a real estate transaction any facts known by the broker or salesperson that contradict any information included in a written report described in paragraph (e), if a copy of the report is provided to the licensee.

(g) The limitation on disclosures in this subdivision shall modify any common law duties with respect to disclosure of material facts.