Kansas Real Estate Commission
 
  9/9/2010
  Summer 2004
                                        
 
     
 
In This Issue
 
2004 Legislative Session Roundup
   
 
Inflating Purchase Price May Violate Law
   
 
Avoid BRRETA Troubles
   
 
Complying with BRRETA Fee-for-Service
   
 
Take Caution with Marketing Incentive Programs
   
 
What Happens When Your Supervising Broker Dies?
   
 
Team Operations – What Every Team Member Should Know
   
 
Don't Get Caught Up in Unlicensed Activities
   
 
Ministerial Acts Deserve a Second Look
   
 
Brokerage Relationships in New Home Subdivisions
   
 
Please, No Legal or Advisory Opinion Requests
   
 
Upcoming Renewal Dates
   
 
Checklist For Obtaining a New License By Exam
   
 
Disciplinary Actions
   
 
Best Wishes to Judy Nusser
   
Current content selection
Two New Laws Enacted
   
 
KREC Welcomes New Commissioners
   
Two New Laws Enacted

 

Kansas law now requires sellers’ disclosure of estimated specials, and if property is located in an improvement district.

Two new laws, K.S.A. 12-6,123 and 12-6a20, became effective July 1, 2003. The laws require sellers to disclose to buyers if a property is subject to a special assessment or fee or is located in an improvement district. The disclosure must be made as part of the contract or prior to its execution. If the amount of special assessments is unknown, the seller must make a good faith estimate. Sellers must also obtain written acknowledgement from buyers that they are aware of the special assessment or fee, or that the property is located in an improvement district.