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Published on Tuesday, December 15, 2015

Deadline reminder: Send any property disclosure requirements to MRSC

During the 2015 session the legislature passed EHB 2122 which relates primarily to Real Estate Excise Tax (REET) authority, but the bill also contains new requirements that apply to cities (or counties) that have in place, or are contemplating enacting, regulations that require certain disclosures by landlords and sellers of real property to buyers and tenants regarding the property and the surrounding area. In short those disclosure requirements need to be sent to MRSC where they will be posted on their website. The deadline is December 24 and as spelled out in the bill, the disclosure requirements must be posted by that time or they “shall cease to be in effect.” Requirements rendered ineffective by missing the deadline can be made effective again once they are posted on the MRSC website.

For more information on this requirement please see this article from MRSC.