Idaho Code 50-2623 – Disclosure Requirement Prior to Lease or Sale of Property
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 50-2623
- Business: means all types of business, including vacant structures, common areas, and lots within the district, and including professions. See Idaho Code 50-2602
- Legislative authority: means the legislative authority of any city. See Idaho Code 50-2602
- Property: includes both real and personal property. See Idaho Code 73-114
Prior to leasing or selling property located within a business improvement district, property owners are required to provide written disclosure to prospective lessees or purchasers that the subject property is located within a business improvement district and that the lessee or purchaser may be responsible for the payment of special assessments to the legislative authority. The written disclosure shall be a statement by the property owner and shall not be construed to be a statement made by any agent representing the property owner. No agent of the property owner shall be authorized to make such a disclosure as provided in this chapter or to verify the same.