§ 463. Exemptions. A property condition disclosure statement shall not\nbe required in connection with any of the following transfers of\nresidential real property:\n 1. A transfer pursuant to a court order, including, but not limited\nto, a transfer order by a probate court during the administration of a\ndecedent's estate, a transfer pursuant to a writ of execution, a\ntransfer by a trustee in bankruptcy or debtor-in-possession, a transfer\nas a result of the exercise of the power of eminent domain, and a\ntransfer that results from a decree for specific performance of a\ncontract or other agreement between two or more persons;\n 2. A transfer to mortgagee or an affiliate or agent thereof by a\nmortgagor by deed in lieu of foreclosure or in satisfaction of the\nmortgage debt;\n 3. A
Free access — add to your briefcase to read the full text and ask questions with AI
§ 463. Exemptions. A property condition disclosure statement shall not\nbe required in connection with any of the following transfers of\nresidential real property:\n 1. A transfer pursuant to a court order, including, but not limited\nto, a transfer order by a probate court during the administration of a\ndecedent's estate, a transfer pursuant to a writ of execution, a\ntransfer by a trustee in bankruptcy or debtor-in-possession, a transfer\nas a result of the exercise of the power of eminent domain, and a\ntransfer that results from a decree for specific performance of a\ncontract or other agreement between two or more persons;\n 2. A transfer to mortgagee or an affiliate or agent thereof by a\nmortgagor by deed in lieu of foreclosure or in satisfaction of the\nmortgage debt;\n 3. A transfer to a beneficiary of a deed of trust;\n 4. A transfer pursuant to a foreclosure sale that follows a default in\nthe satisfaction of an obligation that is secured by a mortgage;\n 5. A transfer by a sale under a power of sale that follows a default\nin the satisfaction of an obligation that is secured by a mortgage;\n 6. A transfer by a mortgagee, or a beneficiary under a mortgage, or an\naffiliate or agent thereof, who has acquired the residential real\nproperty at a sale under a mortgage or who has acquired the residential\nreal property by a deed in lieu of foreclosure;\n 7. A transfer by a fiduciary in the course of the administration of a\ndescendent's estate, a guardianship, a conservatorship, or a trust;\n 8. A transfer from one co-owner to one or more other co-owners;\n 9. A transfer made to the transferor's spouse or to one or more\npersons in the lineal consanguinity of one or more of the transferors;\n 10. A transfer between spouses or former spouses as a result of a\ndecree of divorce, dissolution of marriage, annulment, or legal\nseparation or as a result of property settlement, agreement incidental\nto a decree of divorce, dissolution of marriage, annulment or legal\nseparation;\n 11. A transfer to or from the state, a political subdivision of the\nstate, or another governmental entity;\n 12. A transfer that involves newly constructed residential real\nproperty that previously had not been inhabited;\n 13. A transfer by a sheriff; or\n 14. A transfer pursuant to a partition action.\n