| Real Estate
Transfers Greetings: Recently, there has been some discussion regarding requirements to notify potential purchasers of residential properties that the property may have been used as an illegal meth lab. For your review and information I am attaching two (2) items: 1. A copy of 876 IAC 1. 2. A proposed modification of the disclosure form contained in 876 IAC 1. A main purpose of the modification is to add, “septic/holding tank, septic mound, geothermal and heat pump” to the disclosure form. The existing disclosure form is found at 876 IAC 1-4-2. Look carefully at this form. It contains the definition of a “defect” (also found at IC 32-21-5-4) and a reporting block for “hazardous conditions”. Based upon his presentation at the IEHA Fall Conference, it is the opinion of S. Curtis Devoe of Plews Shadley Racher and Braun that the presence or existence of an illegal meth lab is a reportable event that should be disclosed on the existing real estate disclosure form. The real estate disclosure form is also a model to follow for those jurisdictions that may want to establish their own checklist for properties reported to them as containing an illegal meth lab.
David D. Lamm Legislative Liaison
Real Estate Transfers Rules |