| 14 | | - | Section 1. Section 20-325d of the general statutes is repealed and the |
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| 15 | | - | following is substituted in lieu thereof (Effective January 1, 2020): |
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| 16 | | - | (a) On and after January 1, [2018] 2020, a real estate broker or real |
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| 17 | | - | estate salesperson licensed under this chapter who represents a seller |
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| 18 | | - | [,] or lessor [, prospective purchaser or lessee] in a commercial real |
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| 19 | | - | estate transaction in this state or a real estate transaction involving |
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| 20 | | - | residential real property, as defined in section 20-325c, shall disclose, |
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| 21 | | - | in writing, the identity of his or her client to any prospective purchaser |
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| 22 | | - | or lessee of such real estate or real property who is: |
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| 23 | | - | (1) A party to the transaction; [who is not] and |
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| 24 | | - | (2) Not represented by another real estate broker or real estate |
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| 25 | | - | salesperson licensed under this chapter. |
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| 26 | | - | (b) The real estate broker or real estate salesperson shall make the |
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| 27 | | - | disclosure required under subsection (a) of this section [: (1) If the |
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| 28 | | - | transaction concerns residential real property, as defined in section 20- |
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| 29 | | - | 325c, (A) at the beginning of the first personal meeting concerning the House Bill No. 7178 |
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| 26 | + | Section 1. Section 20-325d of the general statutes is repealed and the 1 |
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| 27 | + | following is substituted in lieu thereof (Effective January 1, 2020): 2 |
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| 28 | + | (a) On and after January 1, [2018] 2020, a real estate broker or real 3 |
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| 29 | + | estate salesperson licensed under this chapter who represents a seller 4 |
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| 30 | + | [,] or lessor [, prospective purchaser or lessee] in a commercial real 5 |
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| 31 | + | estate transaction in this state or a real estate transaction involving 6 |
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| 32 | + | residential real property, as defined in section 20-325c, shall disclose, 7 |
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| 33 | + | in writing, the identity of his or her client to any prospective purchaser 8 |
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| 34 | + | or lessee of such real estate or real property who is: 9 |
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| 35 | + | (1) A party to the transaction; [who is not] and 10 |
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| 36 | + | (2) Not represented by another real estate broker or real estate 11 |
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| 37 | + | salesperson licensed under this chapter. 12 |
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| 38 | + | (b) The real estate broker or real estate salesperson shall make the 13 Raised Bill No. 7178 |
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| 33 | | - | prospective purchaser's or lessee's specific needs in the transaction, or |
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| 34 | | - | (B) at the beginning of the first personal meeting with the seller or |
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| 35 | | - | lessor concerning the seller's or lessor's real property; or (2) if the |
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| 36 | | - | transaction is a commercial real estate transaction, as defined in section |
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| 37 | | - | 20-311,] before the prospective purchaser or lessee signs [the] a |
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| 38 | | - | purchase contract or lease as part of the transaction. Such disclosure |
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| 39 | | - | shall be signed by [a] such prospective purchaser or lessee and |
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| 40 | | - | attached to any offer or agreement to purchase or lease signed by [a] |
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| 41 | | - | such prospective purchaser or lessee as part of such transaction. |
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| 42 | | - | (c) The Commissioner of Consumer Protection [shall] may adopt |
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| 43 | | - | such regulations, in accordance with chapter 54, as the commissioner |
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| 44 | | - | deems necessary to carry out the provisions of this section. |
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| 41 | + | LCO 4289 {\\PRDFS1\HCOUSERS\BARRYJN\WS\2019HB-07178- |
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| 42 | + | R01-HB.docx } |
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| 43 | + | 2 of 2 |
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| 44 | + | |
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| 45 | + | disclosure required under subsection (a) of this section [: (1) If the 14 |
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| 46 | + | transaction concerns residential real property, as defined in section 20-15 |
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| 47 | + | 325c, (A) at the beginning of the first personal meeting concerning the 16 |
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| 48 | + | prospective purchaser's or lessee's specific needs in the transaction, or 17 |
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| 49 | + | (B) at the beginning of the first personal meeting with the seller or 18 |
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| 50 | + | lessor concerning the seller's or lessor's real property; or (2) if the 19 |
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| 51 | + | transaction is a commercial real estate transaction, as defined in section 20 |
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| 52 | + | 20-311,] before the prospective purchaser or lessee signs [the] a 21 |
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| 53 | + | purchase contract or lease as part of the transaction. Such disclosure 22 |
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| 54 | + | shall be signed by [a] such prospective purchaser or lessee and 23 |
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| 55 | + | attached to any offer or agreement to purchase or lease signed by [a] 24 |
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| 56 | + | such prospective purchaser or lessee as part of such transaction. 25 |
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| 57 | + | (c) The Commissioner of Consumer Protection [shall] may adopt 26 |
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| 58 | + | such regulations, in accordance with chapter 54, as the commissioner 27 |
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| 59 | + | deems necessary to carry out the provisions of this section. 28 |
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| 60 | + | This act shall take effect as follows and shall amend the following |
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| 61 | + | sections: |
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| 62 | + | |
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| 63 | + | Section 1 January 1, 2020 20-325d |
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| 64 | + | |
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| 65 | + | INS Joint Favorable |
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