This bill amends Section 5-20.8-5 of the General Laws in Chapter 5-20.8, which relates to real estate sales disclosures. The amendment requires that every agreement for the purchase and sale of residential real estate in the state must contain an acknowledgement that a completed real estate disclosure form has been provided to the buyer by the seller. Failure to provide the disclosure form does not void the agreement or create any defect in title. The amendment also increases the civil penalty for each violation of this requirement from $100 to a maximum of $1,000.

This bill aims to ensure that buyers of residential real estate are provided with a completed real estate disclosure form by the seller. It increases the civil penalty for failing to provide the form to a maximum of $1,000. The bill will take effect upon passage.

Statutes affected:
33: 5-20.8-5