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§89-1-503. Delivery of written statement required; indication of compliance; right of transferee to terminate for late delivery

The transferor of any real property subject to Sections 89-1-501 through 89-
1-523 shall deliver to the prospective transferee the written property
condition disclosure statement required by Sections 89-1-501 through 89-1-
523, as follows:
(a) In the case of a sale, as soon as practicable before transfer of title.
(b) In the case of transfer by a real property sales contract, or by a
lease together with an option to purchase, or a ground lease
coupled with improvements, as soon as practicable before
execution of the contract. For the purpose of this paragraph,
execution means the making or acceptance of an offer.
With respect to any transfer subject to paragraph (a) or (b), the
transferor shall indicate compliance with Sections 89-1-501
through 89-1-523 either on the receipt for deposit, the real
property sales contract, the lease, or any addendum attached
thereto or on a separate document.
If any disclosure, or any material amendment of any disclosure,
required to be made by Section 89-1-501 through 89-1-523, is
delivered after the execution of an offer to purchase, the
transferee shall have three (3) days after delivery in person or five
(5) days after delivery by deposit in the mail, to terminate his or
her offer by delivery of a written notice of termination to the
transferor or the transferor’s agent.

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