558A.2 Procedures.
208 words·~1 min read·
/ia/chapter-558a-real-estate-disclosures/558a-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. A person interested in transferring real property, or a broker or salesperson acting on behalf of the person, shall deliver a written disclosure statement to a person interested in being transferred the real property. The disclosure statement must be delivered prior to either the transferor making a written offer for the transfer of the real property, or accepting a written offer for the transfer of the real property.
2. The disclosure statement shall be made by personal delivery, certified or registered mail, or electronic delivery to the transferee or to the transferee’s agent. If delivery is electronic, acknowledgment of receipt shall be provided pursuant to rules adopted by the commission. The delivery may be made to the spouse of the transferee, unless otherwise provided by the parties. If the disclosure statement is not timely delivered, the transferee may withdraw the offer or revoke the acceptance without liability, within three days following personal delivery of the statement or five days following electronic delivery or delivery by mail.
3. The disclosure statement may be filed with the county recorder with instruments affecting the transfer of real estate. However, the failure to file the statement shall not cause a defect in the title to the property.
Referred to in §558A.5