PGCAR REALTOR(R) Connection - News important to the Prince George's County Maryland REALTORS(R)

IMPORTANT ALERTS

Contract Change Effective TODAY, July 1

PG #1317: Residential Property Disclosure/Disclaimer Statement

This updated form includes additional questions that are required by new legislation.

As of TODAY, July 1, 2013, all Property Disclosure and Disclaimer forms signed
must include the additional questions of the revised form,
PG #1317: Maryland Residential Disclosure / Disclaimer Statement, dated 7/2013.

There are three areas where changes have been made:

On Page 2 under Property System, a category of "Other Type" was added to Sewage Disposal, for the newer-type septic systems that are for an entire designated area.
On Page 2, paragraph 8A was added, including the required questions regarding smoke alarms.
On Page 3, paragraph 16A was added, regarding renovations and obtaining proper permits.

All three of these areas are in bold type on the revised form; to ensure that you are
using the correct (revised) form, look for the date 7/2013 at bottom right of each page.

New Smoke Alarm Requirements
Effective TODAY, July 1

Affects All Sales, Construction and Rentals

New smoke alarm requirements for residential property in Maryland apply to contracts entered into as of TODAY, July 1, 2013. The new requirements also affect current home construction, home renovation, and rental/landlord agreements. Additional changes, as noted in the detailed Legislative Alert (log in to Members Only), go into effect after January 1, 2018.

Sale Requirements as of July 1, 2013:

Language added to the Seller disclosure form asking sellers to indicate whether the smoke alarms are over 10 years old and whether they have sealed, tamper resistant batteries
This requirement applies to contracts entered into after July 1, 2013

Additional requirements for New Construction, Existing Properties and for Rental Properties are in the complete Legislative Alert and also effective TODAY, July 1, 2013.