Sec. 12. (a) An
owner does not violate this chapter if the owner subsequently discovers that the
disclosure form is inaccurate as a result of any act, circumstance, information received, or agreement subsequent to the delivery of the disclosure form. However, at or before
settlement, the owner is required to disclose any material change in the physical condition of the
property or certify to the purchaser at settlement that the condition of the property is substantially the same as it was when the disclosure form was provided.
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Terms Used In Indiana Code 32-21-5-12
- disclosure form: refers to a disclosure form prepared under section 8 of this chapter or a disclosure form that meets the requirements of section 8 of this chapter. See Indiana Code 32-21-5-5
- owner: means the owner of residential real estate that is for sale, exchange, lease with an option to buy, or sale under an installment contract. See Indiana Code 32-21-5-6
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
[Pre-2002 Recodification Citation: 24-4.6-2-12.]
As added by P.L.2-2002, SEC.6.
