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ROBERT L. EHRLICH, JR., Governor Ch. 548
(iv) A sheriffs sale, tax sale, or sale by foreclosure, partition, or by
court appointed trustee;
(v) A transfer by a fiduciary in the course of the administration of a
decedent's estate, guardianship, conservatorship, or trust;
(vi) A transfer of single family residential real property to be
converted by the buyer into a use other than residential use or to be demolished; or
(vii) A sale of unimproved real property.
[(b)] (C) (1) A vendor of single family residential real property shall
complete and deliver to each purchaser:
(i) A written residential property condition disclosure statement on
a form provided by the State Real Estate Commission; or
(ii) A written residential property disclaimer statement on a form
provided by the State Real Estate Commission.
(2) The State Real Estate Commission shall develop by regulation a
single standardized form that includes the residential property condition disclosure
and disclaimer statements required by this subsection.
[(c)] (D) The residential property disclaimer statement shall state :
(1) DISCLOSE ANY LATENT DEFECTS OF WHICH THE VENDOR HAS
ACTUAL KNOWLEDGE THAT A PURCHASER WOULD NOT REASONABLY BE EXPECTED
TO ASCERTAIN BY A CAREFUL VISUAL INSPECTION AND THAT WOULD POSE A DIRECT
THREAT TO THE HEALTH OR SAFETY OF THE PURCHASER OR AN OCCUPANT; AND
(2) STATE that:
(1) (I) [The] EXCEPT AS PROVIDED IN ITEM (II) OF THIS PARAGRAPH
FOR LATENT DEFECTS DISCLOSED UNDER ITEM (1) OF THIS SUBSECTION, THE vendor
makes no representations or warranties as to the condition of the real property or any
improvements on the real property; and
(II) THE VENDOR REPRESENTS AND WARRANTS:
1. THAT THE VENDOR HAS NO ACTUAL KNOWLEDGE OF
LATENT DEFECTS IN THE REAL PROPERTY OR AN IMPROVEMENT TO THE REAL
PROPERTY EXCEPT AS DISCLOSED ON THE RESIDENTIAL PROPERTY DISCLAIMER
STATEMENT;
2. THAT A PURCHASER WOULD NOT REASONABLY BE
EXPECTED TO ASCERTAIN OR OBSERVE THE LATENT DEFECTS BY A CAREFUL VISUAL
INSPECTION OF THE REAL PROPERTY; AND
3. THAT THE LATENT DEFECTS WOULD POSE A DIRECT
THREAT TO THE HEALTH OR SAFETY OF THE PURCHASER OR AN OCCUPANT OF THE
REAL PROPERTY, INCLUDING A TENANT OR INVITEE OF THE PURCHASER; AND
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