S.B. 707

VETOES

President of the Senate

State House

Annapolis, Maryland 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 707.

This bill would require that a seller of certain real property deliver to the purchaser a
disclosure statement providing certain information required by the Real Estate
Commission.

House Bill 1210, which was passed by the General Assembly and signed by me on May 27,
1993, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 707.

Sincerely,

William Donald Schaefer

Governor

Senate Bill No. 707

AN ACT concerning

Real Property - Transfers - Disclosure of Condition of Property

FOR the purpose of requiring a vendor of certain real property to deliver to a purchaser
a disclaimer statement or a disclosure statement; requiring the Real Estate
Commission to develop a form for a statement under this Act that provides certain
information; providing that a purchaser has a right to rescind a contract for sale of
real property under certain circumstances; providing that the purchaser's right to
rescind terminates under certain circumstances; providing that a purchaser may not
waive any rights under this Act; establishing certain time periods for the delivery or
sending of certain statements or notices under this Act; requiring the Commission
to adopt certain regulations; providing for a delayed effective date; providing for the
application of this Act; and generally relating to the disclosure by the vendor of real
property of the condition of the property that is the subject of the sale.

BY adding to                   

Article - Real Property

Section 10-702                                                    

Annotated Code of Maryland
(1988 Replacement Volume and 1992 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Real Property

10-702.                                                                                           

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