Sec. 4. As used in connection with disclosure forms required by this chapter, “defect” means a condition that would have a significant adverse effect on the value of the property, that would significantly impair the health or safety of future occupants of the property, or that if not repaired, removed, or replaced would significantly shorten or adversely affect the expected normal life of the premises.

[Pre-2002 Recodification Citation: 24-4.6-2-4.]

As added by P.L.2-2002, SEC.6.