Plain English Breakdown
Checked against official source text during the last sync.
Radon Disclosure for Real Estate Sales
This bill requires real estate brokers to ensure that sellers provide buyers with information about radon before signing a purchase agreement.
What This Bill Does
- Requires real estate brokers to make sure sellers give buyers a warning statement about radon before signing a purchase agreement.
- Needs sellers to write down and share any knowledge they have about radon concentrations in the home being sold.
- Makes it necessary for sellers to provide buyers with a guide on radon, testing, and mitigation from the Indiana Department of Health.
Who It Names or Affects
- Real estate brokers who represent sellers
- People selling residential property
- Potential buyers of residential property
Terms To Know
- Radon warning statement
- A written notice about the risks and information related to radon gas in a home.
- Broker's real estate license
- A permit given by the Indiana Real Estate Commission that allows someone to work as a real estate broker.
Limits and Unknowns
- The bill does not specify what happens if sellers do not follow these requirements.
- It is unclear how this will be enforced or who will check compliance.