Text: HF00669 Text: HF00671 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 558A.1, subsection 4, Code 1997, is 1 2 amended to read as follows: 1 3 4. "Transfer" means the transfer or conveyance by sale, 1 4 exchange, real estate contract, or any other method by which 1 5 real estate and improvements are purchased, if the property 1 6 includes at least one but not more than four dwelling units. 1 7 However, a transfer does not include any of the following: 1 8 a. A transfer made pursuant to a court order, including 1 9 but not limited to a transfer under chapter 633, the execution 1 10 of a judgment, the foreclosure of a real estate mortgage 1 11 pursuant to chapter 654, the forfeiture of a real estate 1 12 contract under chapter 656, a transfer by a trustee in 1 13 bankruptcy, a transfer by eminent domain,ora transfer 1 14 resulting from a decree for specific performance, or a 1 15 transfer pursuant to writ of execution. 1 16 b. A transfer to a mortgagee by a mortgagor or successor 1 17 in interest who is in default, or a transfer by a mortgagee 1 18 who has acquired real property at a sale conducted pursuant to 1 19 chapter 654, a transfer back to a mortgagor exercising a right 1 20 of first refusal pursuant to section 654.16A, a nonjudicial 1 21 voluntary foreclosure procedure under section 654.18 or 1 22 chapter 655A, or a deed in lieu of foreclosure under section 1 23 654.19. 1 24 c. A transfer by a fiduciary in the course of the 1 25 administration of a decedent's estate, guardianship, 1 26 conservatorship,ortrust, or power of attorney. 1 27 d. A transfer between joint tenants or tenants in common. 1 28 e. A transfer made to a spouse, or to a person in the 1 29 lineal line of consanguinity of a person making the transfer. 1 30 f. A transfer between spouses resulting from a decree of 1 31 dissolution of marriage, a decree of legal separation, or a 1 32 property settlement agreement which is incidental to the 1 33 decree, including a decree ordered pursuant to chapter 598. 1 34 g. A transfer to or from the state, a political 1 35 subdivision of the state, another state, or the United States. 2 1 h. A transfer by quitclaim deed. 2 2 i. A transfer of newly constructed residential real 2 3 property which has never been occupied. 2 4 Sec. 2. NEW SECTION. 558A.4A PSYCHOLOGICALLY IMPACTED 2 5 REAL ESTATE – DISCLOSURE NOT MANDATED. 2 6 1. The fact that real estate, or any building or structure 2 7 on such real estate, may be, or is suspected to be, 2 8 psychologically impacted real estate, or may be in close 2 9 proximity to psychologically impacted real estate, is not a 2 10 material adverse fact that is required to be disclosed in a 2 11 sale, exchange, rental, or other transfer of such real estate. 2 12 2. a. For purposes of this section, "psychologically 2 13 impacted real estate" means real estate where an event has 2 14 occurred including, but not limited to, any of the following: 2 15 (1) The death or suicide of an individual. 2 16 (2) A forcible felony, as defined in section 702.11, which 2 17 is an assault, murder, robbery, or sexual abuse. 2 18 (3) A newsworthy event which impacts the property as a 2 19 result of the notoriety of the event. 2 20 b. "Psychologically impacted real estate" also includes 2 21 real estate which is allegedly haunted. 2 22 3. A cause of action shall not arise against a real estate 2 23 broker or salesperson for the failure to disclose to a buyer 2 24 or other transferee of real estate that the transferred real 2 25 estate is or might be psychologically impacted real estate. 2 26 This section shall not be construed to authorize or permit 2 27 such broker or salesperson to make any misrepresentation of 2 28 fact or false statement, or to fail to disclose a material 2 29 adverse fact. 2 30 EXPLANATION 2 31 This bill creates new Code section 558A.4A, which 2 32 establishes a definition for psychologically impacted real 2 33 estate. The bill provides that the fact that real estate, or 2 34 any building or structure on such real estate, may be, or is 2 35 suspected to be psychologically impacted real estate, or may 3 1 be sited close to psychologically impacted real estate, is not 3 2 a material adverse fact that is required to be disclosed in a 3 3 sale, exchange, rental, or other transfer of such real estate. 3 4 Psychologically impacted real estate is defined as real 3 5 estate where an event has occurred including, but not limited 3 6 to, the following: an individual has died; a forcible felony 3 7 as defined in Code section 702.11, which is an assault, 3 8 murder, robbery, or sexual abuse, has occurred; a suicide has 3 9 occurred; or a newsworthy event has occurred which impacts the 3 10 property as a result of the notoriety of the event. The bill 3 11 provides that psychologically impacted real estate also 3 12 includes real estate which is allegedly haunted or rumored to 3 13 be haunted. 3 14 The bill also provides that a cause of action does not 3 15 arise against a real estate broker or salesperson for the 3 16 failure to disclose to a buyer or other transferee of real 3 17 estate that the transferred real estate is or might be 3 18 psychologically impacted real estate. 3 19 The bill also amends the definition of "transfer" for 3 20 purposes of disclosure requirements under Code chapter 558A, 3 21 to exclude a transfer pursuant to a writ of execution, a 3 22 transfer by a fiduciary in administering a decedent's power of 3 23 attorney, and a transfer of newly constructed residential real 3 24 property which has never been occupied. 3 25 LSB 1855HV 77 3 26 mj/jw/5
Text: HF00669 Text: HF00671 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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