2008 Minnesota Statutes

326B.875 DISCLOSURES.

If a licensee sells or offers to sell residential property, constructed by the licensee, which is or has been occupied by the licensee, the licensee must, prior to entering into a binding purchase agreement, provide to the buyer a written disclosure which states that any claims that arise as a result of the licensee's construction of the property: (1) will not be covered under the statutory warranty established by chapter 327A, and (2) if the licensee has occupied the residential property for one year or more, will not be eligible for reimbursement from the contractor's recovery fund.

History:

1993 c 245 s 33; 2007 c 140 art 8 s 30; art 13 s 4

NOTE:Laws 2007, chapter 140, article 13, section 4, directs the revisor to renumber provisions relating to construction codes and licensing into this chapter in the 2008 edition of Minnesota Statutes. However, Laws 2007, chapter 140, contains amendments to cross-references based on the intended renumbering that appear in Minnesota Statutes 2007 Supplement. For the derivation of the cross-reference changes, see Laws 2007, chapter 140, articles 3, section 6; 4, section 61; 5, section 32; 6, section 15; 7, section 13; 8, section 30; 9, section 27; and 10, section 11.