| 1 | 1 | | LRB-0974/1 |
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| 2 | 2 | | KRP:emw |
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| 3 | 3 | | 2023 - 2024 LEGISLATURE |
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| 4 | 4 | | 2023 ASSEMBLY BILL 844 |
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| 5 | 5 | | December 22, 2023 - Introduced by Representatives SORTWELL, KITCHENS, GOEBEN, |
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| 6 | 6 | | S. JOHNSON, MAXEY and TITTL, cosponsored by Senator TAYLOR. Referred to |
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| 7 | 7 | | Committee on Housing and Real Estate. |
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| 8 | 8 | | ***AUTHORS SUBJECT TO CHANGE*** |
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| 9 | 9 | | AN ACT to amend chapter 709 (title) and 709.02 (title); and to create 709.005 |
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| 10 | 10 | | of the statutes; relating to: disclosures by prospective buyers of residential |
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| 11 | 11 | | real property. |
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| 12 | 12 | | Analysis by the Legislative Reference Bureau |
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| 13 | 13 | | This bill requires a prospective buyer of residential real property with one to |
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| 14 | 14 | | four dwelling units to disclose in the contract of sale or option contract whether the |
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| 15 | 15 | | buyer intends the real property to be owner-occupied. |
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| 16 | 16 | | The people of the state of Wisconsin, represented in senate and assembly, do |
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| 17 | 17 | | enact as follows: |
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| 18 | 18 | | SECTION 1. Chapter 709 (title) of the statutes is amended to read: |
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| 19 | 19 | | CHAPTER 709 |
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| 20 | 20 | | DISCLOSURES BY OWNERS OF |
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| 21 | 21 | | REGARDING REAL ESTATE |
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| 22 | 22 | | SECTION 2. 709.005 of the statutes is created to read: |
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| 30 | 30 | | 8 - 2 -2023 - 2024 Legislature LRB-0974/1 |
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| 31 | 31 | | KRP:emw |
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| 32 | 32 | | SECTION 2 ASSEMBLY BILL 844 |
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| 33 | 33 | | 709.005 Disclosure by prospective buyers. A prospective buyer of real |
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| 34 | 34 | | property, as defined in s. 709.001 (5) (a), shall disclose to the owner of the real |
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| 35 | 35 | | property, in the contract of sale or option contract the buyer submits to the owner or |
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| 36 | 36 | | the owner's agent, whether the buyer intends the real property to be |
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| 37 | 37 | | owner-occupied. |
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| 38 | 38 | | SECTION 3. 709.02 (title) of the statutes is amended to read: |
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| 39 | 39 | | 709.02 (title) Disclosure by owners. |
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| 40 | 40 | | (END) |
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