The proposed bill would amend current statutes regarding the affidavit of disclosure required for the sale of parcels of land in unincorporated areas. It introduces new requirements for the affidavit, including questions about the registration status of private wells and the inspection dates of on-site wastewater treatment facilities. Additionally, it clarifies that sellers or their licensed escrow agents are responsible for recording the affidavit at the same time as the deed, and it specifies that escrow agents are not liable for inaccuracies in the affidavit. The bill also exempts certain sellers, such as those involved in trustee's sales or estate sales, from providing an affidavit.

Furthermore, the bill modifies existing language to enhance transparency for buyers, including a disclaimer about the maintenance of private wells and the responsibilities of buyers regarding water supply. It also makes technical changes to the affidavit format and content, ensuring that it aligns with the new requirements. Overall, the bill aims to improve the disclosure process for property transactions while maintaining certain exemptions for specific types of sellers.

Statutes affected:
Introduced Version: 33-422
House Engrossed Version: 33-422
Senate Engrossed Version: 33-422