3116 W Lake St 414 - Digital Brochure $325,000

DocuSign Envelope ID: 214106BE-A73B-4E24-8A0E-2C307AFC4857




362. Property located at 363. Q. ADDITIONAL COMMENTS: 364. 365. R. MN STATUTES 513.52 THROUGH 513.60: SELLER’S MATERIAL FACT DISCLOSURE: 366. Exceptions: The seller disclosure requirements of MN Statutes 513.52 through 513.60 DO NOT apply to 367. (1) real property that is not residential real property; 368. (2) a gratuitous transfer; 369. (3) a transfer pursuant to a court order; 370. (4) a transfer to a government or governmental agency; 371. (5) a transfer by foreclosure or deed in lieu of foreclosure; 372. (6) a transfer to heirs or devisees of a decedent; 373. (7) a transfer from a co-tenant to one or more other co-tenants; 374. (8) a transfer made to a spouse, parent, grandparent, child, or grandchild of Seller; 375. (9) a transfer between spouses resulting from a decree of marriage dissolution or from a property agreement 376. incidental to that decree; 377. (10) a transfer of newly constructed residential property that has not been inhabited; 378. (11) an option to purchase a unit in a common interest community, until exercised; 379. (12) a transfer to a person who controls or is controlled by the grantor as those terms are defined with 380. respect to a declarant under section 515B.1-103, clause (2); 381. (13) a transfer to a tenant who is in possession of the residential real property; or 382. (14) a transfer of special declarant rights under section 515B.3-104. 383. MN STATUTES 144.496: RADON AWARENESS ACT 384. The seller disclosure requirements of MN Statute 144.496 DO NOT apply to (1)-(9) and (11)-(14) above. Sellers 385. of newly constructed residential property must comply with the disclosure requirements of MN Statute 144.496. 386. Waiver: The written disclosure required under sections 513.52 to 513.60 may be waived if Seller and the 387. prospective Buyer agree in writing. Waiver of the disclosure required under sections 513.52 to 513.60 does not 388. waive, limit, or abridge any obligation for seller disclosure created by any other law. 389. No Duty to Disclose: 390. (A) There is no duty to disclose the fact that the property 391. (1) is or was occupied by an owner or occupant who is or was suspected to be infected with Human 392. Immunodeficiency Virus or diagnosed with Acquired Immunodeficiency Syndrome; 393. (2) was the site of a suicide, accidental death, natural death, or perceived paranormal activity; or 394. (3) is located in a neighborhood containing any adult family home, community-based residential facility, or 395. nursing home. 396. (B) Predatory Offenders. There is no duty to disclose information regarding an offender who is required to 397. register under MN Statute 243.166 or about whom notification is made under that section, if Seller, in a timely 398. manner, provides a written notice that information about the predatory offender registry and persons registered 399. with the registry may be obtained by contacting the local law enforcement agency where the property is 400. located or the Department of Corrections. 401. (C) The provisions in paragraphs (A) and (B) do not create a duty to disclose any facts described in paragraphs 402. (A) and (B) for property that is not residential property. 403. (D) Inspections. 404. (1) Except as provided in paragraph (2), Seller is not required to disclose information relating to the real 405. property if a written report that discloses the information has been prepared by a qualified third party 406. and provided to the prospective buyer. For purposes of this paragraph, “qualified third party” means a 407. federal, state, or local governmental agency, or any person whom Seller or prospective buyer reasonably 408. believes has the expertise necessary to meet the industry standards of practice for the type of inspection 409. or investigation that has been conducted by the third party in order to prepare the written report. 410. (2) Seller shall disclose to the prospective buyer material facts known by Seller that contradict any information 411. included in a written report under paragraph (1) if a copy of the report is provided to Seller. MN:DS:SPDS-9 (8/16) 3116 W Lake Street Minneapolis MN 55416


Page 16 of 20


Made with FlippingBook Online document