OLR Bill Analysis

sHB 6114

AN ACT CONCERNING DISCLOSURE OF AN HISTORIC DISTRICT DESIGNATION TO PROSPECTIVE PURCHASERS OF RESIDENTIAL PROPERTY.

SUMMARY:

This bill requires the written residential condition report used in residential real estate transactions, which the Department of Consumer Protection prescribes through regulation, to include the following statement in conspicuous type:

“If this form indicates this property is located in a municipally-designated historic district or municipally-designated historic village or is a municipally-designated historic property, you may contact the town clerk for additional information on specific compliance requirements pertaining to such property. “

EFFECTIVE DATE: October 1, 2009

BACKGROUND

Written Residential Condition Report

In a residential real estate transaction (i. e. , sale, exchange, or lease with option to buy), state law requires a real estate seller to give prospective purchasers a residential condition report before the binder or contract is executed. The report discloses information about the property and environmental matters, such as lead and radon (CGS § 20-327b).

Related Bill

The General Law Committee favorably reported HB 5400, which requires the residential condition report to include a statement listing all leased appliances and items on the premises, including propane tanks and security system hardware.

COMMITTEE ACTION

Insurance and Real Estate Committee

Joint Favorable Substitute