House File 79 - Introduced



                                       HOUSE FILE       
                                       BY  HUNTER, WESSEL=KROESCHELL,
                                           WHITAKER, SWAIM, JOCHUM,
                                           and D. TAYLOR


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to the disclosure of methamphetamine manufacture
  2    in real estate installment contracts and real estate
  3    transfers.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1771HH 82
  6 av/cf/24

PAG LIN



  1  1    Section 1.  Section 558.70, subsection 1, Code 2007, is
  1  2 amended by adding the following new paragraph:
  1  3    NEW PARAGRAPH.  k.  Whether, to the seller's knowledge,
  1  4 methamphetamine has or has not been manufactured on the
  1  5 property.
  1  6    Sec. 2.  Section 558A.4, subsection 1, Code 2007, is
  1  7 amended to read as follows:
  1  8    1.  The disclosure statement shall include information
  1  9 relating to the condition and important characteristics of the
  1 10 property and structures located on the property, including
  1 11 significant defects in the structural integrity of the
  1 12 structure, as provided in rules which shall be adopted by the
  1 13 real estate commission pursuant to section 543B.9.  The
  1 14 disclosure statement shall include whether methamphetamine has
  1 15 or has not been manufactured on the property.  The disclosure
  1 16 statement shall also include whether the property is located
  1 17 in a real estate improvement district and the amount of any
  1 18 special assessment against the property under chapter 358C.
  1 19 The rules may require the disclosure to include information
  1 20 relating to the property's zoning classification; the
  1 21 condition of plumbing, heating, or electrical systems; or the
  1 22 presence of pests.
  1 23                           EXPLANATION
  1 24    This bill relates to the disclosure of whether
  1 25 methamphetamine has or has not been manufactured on a property
  1 26 prior to transfer of the property.  The bill requires a
  1 27 contract seller to disclose prior to the execution of a
  1 28 residential real estate installment sales contract whether
  1 29 methamphetamine has or has not been manufactured on the
  1 30 property.  A person injured by a failure to make the
  1 31 disclosure may bring a civil action for equitable relief to
  1 32 rescind the contract or for actual damages.
  1 33    The bill requires a person who is transferring real
  1 34 property to deliver a written disclosure statement to a person
  1 35 interested in being transferred the real property that states
  2  1 whether methamphetamine has or has not been manufactured on
  2  2 the property.  A person injured by a failure to make the
  2  3 disclosure may bring a civil action to recover actual damages.
  2  4 LSB 1771HH 82
  2  5 av:nh/cf/24