09.11.07 - Maryland Real Estate Commission - Proposed Regulations
PROPOSED ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 46, ISSUE 26,
FRIDAY, OCTOBER 12, 2018
Title 09 DEPARTMENT OF LABOR
Subtitle 11 REAL ESTATE COMMISSION
09.11.07 Residential Property Disclosure/Disclaimer Statement
Authority: Business Occupations and Professions Article, §17-208; Real Property Article, §10-702; Annotated Code of Maryland
Notice of Proposed Action
The Maryland Real Estate Commission proposes to amend Regulation .01 under COMAR 09.11.07 Residential Property Disclosure/Disclaimer Statement. This action was considered at a public meeting held on March 20, 2019.
Statement of Purpose
The purpose of this action is to comply with the requirement in Real Property Article, §10-702, Annotated Code of Maryland, that the Commission develop by regulation a standardized form that includes residential property condition disclosure and disclaimer statements that a vendor of single-family residential real property must complete and deliver to each purchaser.
Comparison to Federal Standards
There is no corresponding federal standard to this proposed action.
Estimate of Economic Impact
The proposed action has no economic impact.
Economic Impact on Small Businesses
The proposed action has minimal or no economic impact on small businesses.
Impact on Individuals with Disabilities
The proposed action has no impact on individuals with disabilities.
Opportunity for Public Comment
Comments may be sent to Michael Kasnic, Executive Director, State Real Estate Commission, Department of Labor, 500 N. Calvert Street, Baltimore, MD 21202, or call 410-230-6227, or email to Michael.Kasnic@Maryland.gov, or fax to 410-333-0023. Comments will be accepted through January 21, 2020. A public hearing has not been scheduled.
Final action on the proposal will be considered by the Maryland Real Estate Commission during a public meeting to be held on February 19, 2020, at 10:30 a.m., at the Department of Labor, 500 N. Calvert St., 3rd Fl. Conf. Room, Baltimore, MD 21202.
.01 Residential Real Property Disclosure/Disclaimer Statement.
In accordance with the provisions of the Real Property Article, §10-702, Annotated Code of Maryland [a model] the disclosure/disclaimer statement form provided by the Maryland Real Estate Commission shall be used in all applicable real property transactions.
Note: The form referenced in Regulation .01 above appears at the end of the Proposed Action on Regulations section of this issue of the Maryland Register.
J. NICHOLAS D’AMBROSIA
Real Estate Commission