When Are Property Disclosures NOT Required by CT State Law?

If you are not sure whether the purchase or sale of a property in Connecticut is subject to the buyers receipt of a Property Condition Disclosure, contact your attorney. The sellers fine  for this is $500 payable to to the buyer at closing for not providing the disclosure prior to the buyer making an offer.

Recently, a clent of mine wanted to make an offer on a property that was purported to be an estate, hence, the agent stated that no disclosures were needed.  However, upon further speaking with the agent, I learned that the owner was still alive, and her children had Power of Attorney. This property was NOT exempt from the disclosure law, as Power of Attorney is not listed as an exemption under this law.  There was no mention of "ownership" by  trustee or conservatorship.

Sec. 20-327b. Residential condition reports. Exemption. Regulations.- See more at: http://realestate.uslegal.com

"(b) The following shall be exempt from the provisions of this section: (1) Any transfer from one or more co-owners solely to one or more of the co-owners; (2) transfers made to the spouse, mother, father, brother, sister, child, grandparent or grandchild of the transferor where no consideration is paid; (3) transfers pursuant to an order of the court; (4) transfers of newly-constructed residential real property for which an implied warranty is provided under chapter 827; (5) transfers made by executors, administrators, trustees or conservators; (6) transfers by the federal government, any political subdivision thereof or any corporation, institution or quasi-governmental agency chartered by the federal government; (7) transfers by deed in lieu of foreclosure; (8) transfers by the state of Connecticut or any political subdivision thereof; (9) transfers of property which was the subject of a contract or option entered into prior to January 1, 1996; and (10) any transfer of property acquired by a judgment of strict foreclosure or by foreclosure by sale or by a deed in lieu of foreclosure."

The exemption does not include Lead Disclosures, considered mandatory for any property built after 1978

PLEASE NOTE: I am not an attorney- if you have any questions regarding the disclosure law, ask your legal counsel.

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

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