<?xml version='1.0' encoding='utf-8'?>
<chapter num="07" heading="Residential Property Disclosure/Disclaimer Statement" title_num="09" subtitle_num="11">
  <regulation prefix="Regulation" num=".01" heading="Residential Real Property Disclosure/Disclaimer Statement.">
    <text>In accordance with the provisions of the Real Property Article, §10-702, Annotated Code of Maryland the disclosure/disclaimer statement form provided by the Maryland Real Estate Commission shall be used in all applicable real property transactions.</text>
    <text>FORMS AT END OF CHAPTER.</text>
  </regulation>
  <regulation prefix="Regulation" num=".02" heading="Guidelines.">
    <paragraph num="A.">
      <text>A licensed broker, associate broker, or salesperson acting as a seller’s agent should obtain a written residential property condition disclosure statement or a written residential property disclaimer statement at the time the licensed broker, associate broker, or salesperson obtains the listing on the property.</text>
    </paragraph>
    <paragraph num="B.">
      <text>The seller’s agent should provide the disclosure statement or disclaimer statement to the prospective purchaser or to the buyer’s agent assisting the purchaser promptly upon notification that an offer is going to be made. If the seller’s agent does not know in advance that an offer is to be made, the seller’s agent should provide the disclosure statement or disclaimer statement at the time the seller’s agent receives the written offer.</text>
    </paragraph>
    <paragraph num="C.">
      <text>The buyer’s agent should make every effort to ensure that the prospective purchaser has the disclosure statement or the disclaimer statement in hand before submission of the offer to purchase the property.</text>
    </paragraph>
  </regulation>
  <annotations>
    <annotation type="Authority">Business Occupations and Professions Article, §17-208; Real Property Article, §10-702; Annotated Code of Maryland</annotation>
    <annotation type="History" subtype="Administrative History">Effective date: January 17, 1994 (21:1 Md. R. 29)</annotation>
    <annotation type="History" subtype="Administrative History">Regulation .01 repealed and new Regulation .01 adopted as an emergency provision effective October 16, 1995 (22:23 Md. R. 1795); adopted permanently effective April 8, 1996 (23:7 Md. R. 551)</annotation>
    <annotation type="History" subtype="Administrative History">Regulation .01 amended effective December 28, 2020 (47:26 Md. R. 1107)</annotation>
    <annotation type="History" subtype="Administrative History">Regulation .02 adopted as an emergency provision effective January 6, 1994 (21:2 Md. R. 95); emergency status expired July 1, 1994; adopted permanently effective July 18, 1994 (21:14 Md. R. 1228)</annotation>
    <annotation type="History" subtype="Administrative History">Regulation .02 amended effective June 1, 2017 (44:8 Md. R. 402)</annotation>
  </annotations>
</chapter>