{"data":{"id":"us-ky/krs-324.360","jurisdiction":"us-ky","citation":"KRS 324.360","heading":"Form for seller's disclosure of conditions.","body":"(1) This section shall apply to sales and purchases involving single -family residential\nreal estate dwellings if any person licensed under this chapter receives\ncompensation.\n(2) The commission shall promulgate an administrative regulation authorizing a\n\"seller's disclosure of conditions form.\"\n(3) The form shall provide for disclosure by the seller of the following:\n(a) Basement condition and whether it leaks;\n(b) Roof condition and whether it leaks;\n(c) Source and condition of water supply;\n(d) Source and condition of sewage service;\n(e) Working condition of component systems; and\n(f) Other matters the commission deems appropriate.\n(4) The seller of the property shall complete and sign the form at the time he or she\nexecutes any listing agreement or similar ag reement by which a licensee intends to\nmarket the property. A copy of the form shall be provided by the listing agent to any\nprospective buyer or a buyer's authorized representative upon request. A copy of the\nform shall be delivered by the listing agent t o any prospective purchaser or his\nrepresentative within seventy -two (72) hours of the listing agent's receipt of a\nwritten and signed offer to purchase. The listing agent shall solicit the signature of\nthe buyer on a copy of the form which the listing age nt shall retain in the principal\nbroker's records. The signature shall evidence the listing agent's compliance with\nthe provisions of this section. Should the buyer refuse to sign the form, the licensee\nshall record the buyer's refusal to sign on the form and retain a copy in his principal\nbroker's records.\n(5) If the subject property is offered for sale by the property's owner without a listing\nagreement, any licensee involved in the transaction shall provide a blank form to the\nproperty's owner and shall request that the property's owner complete and sign the\nform. If the property's owner completes and signs the form, the licensee shall\ndeliver the form to the buyer or potential buyer not later than one hundred twenty\n(120) hours after the creation of any executory contract for sale of the property. The\nlicensee shall solicit the signature of the buyer on a copy of the form as delivered to\nthe buyer or prospective buyer and shall retain the copy in his or her principal\nbroker's records. The signature of the  buyer or prospective buyer shall evidence the\nlisting agent's compliance with the provisions of this section. Should the buyer\nrefuse to sign the form, the licensee shall record the buyer's refusal to sign on the\nform and retain a copy in his or her principal broker's records.\n(6) The original of the form shall be retained by the listing broker or by the broker of\nany licensee who presents an offer on a property not subject to a listing agreement.\n(7) The form shall not be required for residential purchase s of new homes if a warranty\nis offered, for a sale of real estate at an auction, or for a court supervised\nforeclosure.\n(8) If the seller refuses to complete and sign the form, his refusal shall be\ncommunicated in writing by the broker or sales associate who is involved in the\ntransaction to the purchaser or prospective purchaser, without unreasonable delay.\n(9) It shall be a violation of this chapter for a licensee to complete any portion of the\nform unless the licensee is the owner of the property or has been requested by the\nowner to complete the form. The request shall be acknowledged in writing on the\nform and the licensee shall be held harmless for any representation that appears on\nthe form.","path":["KRS Chapter 324"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=31615","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:19Z","sha256":"aeab377e4c7eed1654384165ac9d30341d22e0538a1f489742d37a2adac596fc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-324.350","next":"us-ky/krs-324.395"},"notice":"GroundRules: Original legal text. Not legal advice."}