| 1 | | - | BILLASPASSEDBYTHEHOUSE H.106 |
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| 2 | | - | 2025 Page1of5 |
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| 3 | | - | H.106 |
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| 4 | | - | IntroducedbyRepresentativeStevensofWaterbury |
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| 5 | | - | ReferredtoCommitteeon |
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| 6 | | - | Date: |
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| 7 | | - | Subject:Property;conveyanceofrealestate;floodplaindisclosure |
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| 8 | | - | Statementofpurposeofbillasintroduced:Thisbillproposestorepealthe |
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| 9 | | - | requirementthatasellerofrealpropertynotifyapurchaserwhetherthe |
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| 10 | | - | propertyislocatedinaFederalEmergencyManagementAgencymapped |
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| 11 | | - | floodhazardarea. |
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| 12 | | - | AnactrelatingtosellingrealpropertywithinaFEMAmappedflood |
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| 13 | | - | hazardarea |
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| 14 | | - | ItisherebyenactedbytheGeneralAssemblyoftheStateofVermont: |
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| 15 | | - | Sec.1.27V.S.A.§380isamendedtoread: |
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| 16 | | - | §380.DISCLOSUREOFINFORMATION;CONVEYANCE OFREAL |
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| 17 | | - | ESTATE |
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| 18 | | - | (a)Priortooraspartofacontractfortheconveyanceofrealproperty,the |
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| 19 | | - | sellershallprovidethebuyerwiththefollowinginformation: |
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| 20 | | - | (1)whethertherealpropertyislocatedinaFederalEmergency |
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| 21 | | - | ManagementAgencymappedspecialfloodhazardarea;[Repealed.] |
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| 40 | | - | 19 BILLASPASSEDBYTHEHOUSE H.106 |
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| 41 | | - | 2025 Page2of5 |
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| 42 | | - | (2)whethertherealpropertyislocatedinaFederalEmergency |
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| 43 | | - | ManagementAgencymappedmoderatefloodhazardarea;[Repealed.] |
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| 44 | | - | (3)whethertherealpropertywassubjecttofloodingorflooddamage |
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| 45 | | - | whilethesellerpossessedtheproperty,includingflooddamagefrom |
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| 46 | | - | inundationorfromflood-relatederosionorlandslidedamage;and |
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| 47 | | - | (4)whetherthesellermaintainsfloodinsuranceontherealproperty. |
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| 48 | | - | (b)Thefailureofthesellertoprovidethebuyerwiththeinformation |
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| 49 | | - | requiredundersubsection(a)ofthissectionisgroundsforthebuyerto |
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| 50 | | - | terminatethecontractpriortotransferoftitleoroccupancy,whicheveroccurs |
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| 51 | | - | earlier. |
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| 52 | | - | (c)Abuyerofrealestatewhofailstoreceivetheinformationrequiredto |
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| 53 | | - | bedisclosedbyasellerundersubsection(a)ofthissectionmaybringanaction |
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| 54 | | - | torecoverfromthesellertheamountofthebuyer’sdamagesandreasonable |
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| 55 | | - | attorney’sfees.Thebuyermayalsoseekpunitivedamageswhentheseller |
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| 56 | | - | knowinglyfailedtoprovidetherequiredinformation. |
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| 57 | | - | (d)Asellershallnotbeliablefordamagesunderthissectionforanyerror, |
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| 58 | | - | inaccuracy,oromissionofanyinformationrequiredtobedisclosedtothe |
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| 59 | | - | buyerundersubsection(a)ofthissectionwhentheerror,inaccuracy,or |
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| 60 | | - | omissionwasbasedoninformationprovidedbyapublicbodyorbyanother |
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| 61 | | - | personwithaprofessionallicenseorspecialknowledgewhoprovideda |
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| 81 | | - | 20 BILLASPASSEDBYTHEHOUSE H.106 |
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| 82 | | - | 2025 Page3of5 |
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| 83 | | - | writtenreportthatthesellerreasonablybelievedtobecorrectandthatwas |
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| 84 | | - | providedbythesellertothebuyer. |
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| 85 | | - | (e)Noncompliancewiththerequirementsofthissectionshallnotaffectthe |
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| 86 | | - | marketabilityoftitleofarealproperty. |
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| 87 | | - | Sec.2.FAILURETODISCLOSE;CONVEYANCE OFREALESTATE; |
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| 88 | | - | REPEAL |
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| 89 | | - | Aclaimarisingfromthefailureofasellerofrealestatetoprovide |
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| 90 | | - | informationrequiredby27V.S.A.§ 380(a)(1)or(2)shallnotbeeligiblefor |
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| 91 | | - | damages,includingpunitivedamages,orreasonableattorney’sfeesunder |
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| 92 | | - | 27 V.S.A.§380(c). |
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| 93 | | - | Sec.3.EFFECTIVEDATES |
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| 94 | | - | Thisactshalltakeeffectonpassage,exceptthat,notwithstanding1V.S.A. |
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| 95 | | - | § 214,Sec.2shallapplyretroactivelytoJune17,2024andshallapplytoany |
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| 96 | | - | claimfiledonorafterJune17,2024. |
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| 97 | | - | Sec.1.27V.S.A.§380isamendedtoread: |
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| 98 | | - | §380.DISCLOSUREOFINFORMATION;CONVEYANCEOFREAL |
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| 99 | | - | ESTATE |
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| 100 | | - | (a)Priortooraspartofacontractfortheconveyanceofrealproperty,the |
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| 101 | | - | sellershallprovidethebuyerwiththefollowinginformation: |
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| 102 | | - | (1)whethertherealpropertyislocatedinaFederalEmergency |
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| 103 | | - | ManagementAgencymappedspecialfloodhazardarea; |
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| 117 | | - | 14 BILLASPASSEDBYTHEHOUSE H.106 |
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| 118 | | - | 2025 Page4of5 |
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| 119 | | - | (2)whethertherealpropertyislocatedinaFederalEmergency |
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| 120 | | - | ManagementAgencymappedmoderatefloodhazardarea; |
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| 121 | | - | (3)whethertherealpropertywassubjecttofloodingorflooddamage |
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| 122 | | - | whilethesellerpossessedtheproperty,includingflooddamagefrom |
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| 123 | | - | inundationorfromflood-relatederosionorlandslidedamage;and |
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| 124 | | - | (4)whetherthesellermaintainsfloodinsuranceontherealproperty. |
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| 125 | | - | (b)Thefailureofthesellertoprovidethebuyerwiththeinformation |
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| 126 | | - | requiredundersubsection(a)ofthissectionisgroundsforthebuyerto |
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| 127 | | - | terminatethecontractpriortotransferoftitleoroccupancy,whicheveroccurs |
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| 128 | | - | earlier. |
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| 129 | | - | (c)AbuyerIfasellerofrealestatewhofailstoreceiveprovidethe |
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| 130 | | - | informationrequiredtobedisclosedbyasellerundersubsection(a)ofthis |
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| 131 | | - | section,abuyermaybringanactiontorecoverfromthesellertheamountof |
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| 132 | | - | thebuyer’sdamagesandreasonableattorney’sfees.Thebuyermayalsoseek |
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| 133 | | - | punitivedamageswhenthesellerknowinglyfailedtoprovidetherequired |
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| 134 | | - | information. |
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| 135 | | - | (d)Asellershallnotbeliablefordamagesunderthissectionforanyerror, |
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| 136 | | - | inaccuracy,oromissionofanyinformationrequiredtobedisclosedtothe |
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| 137 | | - | buyerundersubsection(a)ofthissection: |
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| 138 | | - | (1)whentheerror,inaccuracy,oromissionwasbasedoninformation |
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| 139 | | - | providedbyapublicbodyorbyanotherpersonwithaprofessionallicenseor BILLASPASSEDBYTHEHOUSE H.106 |
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| 140 | | - | 2025 Page5of5 |
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| 141 | | - | specialknowledgewhoprovidedawrittenreportthatthesellerreasonably |
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| 142 | | - | believedtobecorrectandthatwasprovidedbythesellertothebuyer;or |
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| 143 | | - | (2)iftheseller,afterreasonableattempttoidentifywhetherthelocation |
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| 144 | | - | oftherealpropertyiswithinaFederalEmergencyManagementAgency |
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| 145 | | - | mappedspecialormoderatefloodhazardarea,notifiesthebuyerthatthe |
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| 146 | | - | sellercannotreasonablydetermineiftherealpropertyislocatedwithina |
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| 147 | | - | specialormoderatefloodhazardareaandthesellernotifiesthebuyerofthe |
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| 148 | | - | requirementsofsubsection(a)ofthissection. |
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| 149 | | - | (e)Noncompliancewiththerequirementsofthissectionshallnotaffectthe |
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| 150 | | - | marketabilityoftitleofarealproperty. |
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| 151 | | - | Sec.2.EFFECTIVEDATES |
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| 152 | | - | Thisactshalltakeeffectonpassage. |
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| 1 | + | BILL AS INTRODUCED H.106 |
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| 2 | + | 2025 Page 1 of 3 |
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| 4 | + | |
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| 5 | + | VT LEG #379814 v.1 |
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| 6 | + | H.106 1 |
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| 7 | + | Introduced by Representative Stevens of Waterbury 2 |
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| 8 | + | Referred to Committee on 3 |
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| 9 | + | Date: 4 |
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| 10 | + | Subject: Property; conveyance of real estate; floodplain disclosure 5 |
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| 11 | + | Statement of purpose of bill as introduced: This bill proposes to repeal the 6 |
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| 12 | + | requirement that a seller of real property notify a purchaser whether the 7 |
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| 13 | + | property is located in a Federal Emergency Management Agency mapped 8 |
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| 14 | + | flood hazard area. 9 |
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| 15 | + | An act relating to selling real property within a FEMA mapped flood hazard 10 |
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| 16 | + | area 11 |
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| 17 | + | It is hereby enacted by the General Assembly of the State of Vermont: 12 |
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| 18 | + | Sec. 1. 27 V.S.A. § 380 is amended to read: 13 |
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| 19 | + | § 380. DISCLOSURE OF INFORMATION; CONVEYANCE OF REAL 14 |
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| 20 | + | ESTATE 15 |
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| 21 | + | (a) Prior to or as part of a contract for the conveyance of real property, the 16 |
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| 22 | + | seller shall provide the buyer with the following information: 17 |
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| 23 | + | (1) whether the real property is located in a Federal Emergency 18 |
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| 24 | + | Management Agency mapped special flood hazard area; [Repealed.] 19 BILL AS INTRODUCED H.106 |
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| 25 | + | 2025 Page 2 of 3 |
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| 26 | + | |
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| 27 | + | |
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| 28 | + | VT LEG #379814 v.1 |
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| 29 | + | (2) whether the real property is located in a Federal Emergency 1 |
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| 30 | + | Management Agency mapped moderate flood hazard area; [Repealed.] 2 |
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| 31 | + | (3) whether the real property was subject to flooding or flood damage 3 |
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| 32 | + | while the seller possessed the property, including flood damage from 4 |
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| 33 | + | inundation or from flood-related erosion or landslide damage; and 5 |
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| 34 | + | (4) whether the seller maintains flood insurance on the real property. 6 |
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| 35 | + | (b) The failure of the seller to provide the buyer with the information 7 |
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| 36 | + | required under subsection (a) of this section is grounds for the buyer to 8 |
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| 37 | + | terminate the contract prior to transfer of title or occupancy, whichever occurs 9 |
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| 38 | + | earlier. 10 |
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| 39 | + | (c) A buyer of real estate who fails to receive the information required to be 11 |
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| 40 | + | disclosed by a seller under subsection (a) of this section may bring an action to 12 |
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| 41 | + | recover from the seller the amount of the buyer’s damages and reasonable 13 |
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| 42 | + | attorney’s fees. The buyer may also seek punitive damages when the seller 14 |
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| 43 | + | knowingly failed to provide the required information. 15 |
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| 44 | + | (d) A seller shall not be liable for damages under this section for any error, 16 |
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| 45 | + | inaccuracy, or omission of any information required to be disclosed to the 17 |
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| 46 | + | buyer under subsection (a) of this section when the error, inaccuracy, or 18 |
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| 47 | + | omission was based on information provided by a public body or by another 19 |
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| 48 | + | person with a professional license or special knowledge who provided a 20 BILL AS INTRODUCED H.106 |
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| 49 | + | 2025 Page 3 of 3 |
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| 50 | + | |
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| 51 | + | |
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| 52 | + | VT LEG #379814 v.1 |
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| 53 | + | written report that the seller reasonably believed to be correct and that was 1 |
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| 54 | + | provided by the seller to the buyer. 2 |
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| 55 | + | (e) Noncompliance with the requirements of this section shall not affect the 3 |
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| 56 | + | marketability of title of a real property. 4 |
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| 57 | + | Sec. 2. FAILURE TO DISCLOSE; CONVEYANCE OF REAL ESTATE; 5 |
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| 58 | + | REPEAL 6 |
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| 59 | + | A claim arising from the failure of a seller of real estate to provide 7 |
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| 60 | + | information required by 27 V.S.A. § 380(a)(1) or (2) shall not be eligible for 8 |
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| 61 | + | damages, including punitive damages, or reasonable attorney’s fees under 9 |
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| 62 | + | 27 V.S.A. § 380(c). 10 |
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| 63 | + | Sec. 3. EFFECTIVE DATES 11 |
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| 64 | + | This act shall take effect on passage, except that, notwithstanding 1 V.S.A. 12 |
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| 65 | + | § 214, Sec. 2 shall apply retroactively to June 17, 2024 and shall apply to any 13 |
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| 66 | + | claim filed on or after June 17, 2024. 14 |
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