DISCLOSURE STATEMENT: SELLER’S PROPERTY DISCLOSURE STATEMENT 220. Page 6
THE INFORMATION DISCLOSED IS GIVEN TO THE BEST OF SELLER’S KNOWLEDGE.
222. Property located at . 223. G. FOREIGN INVESTMENT IN REAL PROPERTYTAX ACT (“FIRPTA”): Section 1445 of the Internal Revenue Code 224. provides that a transferee (“Buyer”) of a United States real property interest must be notified in writing and must 225. withhold tax if the transferor (“Seller”) is a foreign person and no exceptions from FIRPTA withholding apply. 226. Seller represents that Seller IS IS NOT a foreign person (i.e., a non-resident alien individual, foreign corporation, ------- (Check one. )------ 227. foreign partnership, foreign trust, or foreign estate) for purposes of income taxation. This representation shall 228. survive the closing of any transaction involving the property described here. 229. NOTE: If the above answer is “ IS ,” Buyer may be subject to income tax withholding in connection with the 230. transaction (unless the transaction is covered by an applicable exception to FIRPTA withholding). In 231. non-exempt transactions, Buyer may be liable for the tax if Buyer fails to withhold. 232. If the above answer is “ IS NOT ,” Buyer may wish to obtain specific documentation from Seller ensuring 233. Buyer is exempt from the withholding requirements as prescribed under Section 1445 of the Internal 234. Revenue Code. 235. Due to the complexity and potential risks of failing to comply with FIRPTA, including Buyer’s responsibility 236. for withholding the applicable tax, Buyer and Seller should seek appropriate legal and tax advice regarding 237. FIRPTA compliance, as the respective licensees representing or assisting either party will be unable to 238. assure either party whether the transaction is exempt from the FIRPTA withholding requirements. 2828 Aldrich Avenue S Unit 101 Minneapolis MN 55408 8 244. I. NOTICE REGARDING AIRPORT ZONING REGULATIONS: The property may be in or near an airport safety 245. zone with zoning regulations adopted by the governing body that may affect the property. Such zoning regulations 246. are filed with the county recorder in each county where the zoned area is located. If you would like to determine 247. if such zoning regulations affect the property, you should contact the county recorder where the zoned area is 248. located. 249. J. NOTICE REGARDING CARBON MONOXIDE DETECTORS: MN Statute 299F.51 requires Carbon Monoxide 250. Detectors to be located within ten (10) feet from all sleeping rooms. Carbon Monoxide Detectors may or may not 251. be personal property and may or may not be included in the sale of the home. 252. K. CEMETERY ACT: The following questions are to be answered to the best of Seller’s knowledge. 253. MN Statute 307.08 prohibits any damage or illegal molestation of human remains, burials or cemeteries. A person 254. who intentionally, willfully and knowingly destroys, mutilates, injures, disturbs, or removes human skeletal remains 255. or human burial grounds is guilty of a felony. 256. Are you aware of any human remains, burials, or cemeteries located on the property? Yes No 258. All unidentified human remains or burials found outside of platted, recorded or identified cemeteries and in 259. contexts which indicate antiquity greater than 50 years shall be dealt with according to the provisions of MN 260. Statute 307.08, Subd. 7. 261. L. ENVIRONMENTAL CONCERNS: To your knowledge, have any of the following previously existed or do they 262. currently exist on the property? 263. (1) Animal/Insect/Pest Infestation? Yes No (6) Lead? (e.g., paint, plumbing) Yes No 264. (2) Asbestos? Yes No (7) Mold? Yes No 265. (3) Diseased trees? Yes No (8) Soil problems? Yes No 266. (4) Formaldehyde? Yes No (9) Underground storage tanks? Yes No 267. (5) Hazardous waste/substances? Yes No 8 8 8 8 8 8 8 8 8 8 239. H. METHAMPHETAMINE PRODUCTION DISCLOSURE: 240. (A Methamphetamine Production Disclosure is required by MN Statute 152.0275, Subd. 2 (m).) Seller is not aware of any methamphetamine production that has occurred on the property. Seller is aware that methamphetamine production has occurred on the property. 8 241. 242. 243. (See Disclosure Statement: Methamphetamine Production.) 257. If “Yes,” please explain:
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