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Arkansas Code Title 18. Property § 18-11-107. Required disclosure by closing agent

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) As used in this section:

(1) “Agricultural operation” means an agricultural, silvicultural, or aquacultural facility or pursuit conducted, in whole or in part, including:

(A) The care and production of livestock and livestock products, poultry and poultry products, apiary products, and plant and animal production for nonfood uses;

(B) The planting, cultivating, harvesting, and processing of crops and timber; and

(C) The production of any plant or animal species in a controlled freshwater or saltwater environment; and

(2) “Closing agent” means a person that facilitates a closing.

(b) A closing agent shall provide a written disclosure statement before or at the time of closing a real estate transaction that makes a buyer of real property aware that:

(1) The real property may be located within or near a rural area; and

(2) Agricultural operations on real property nearby are protected under § 2-4-101 et seq. and shall not be found to be a public or private nuisance if the agricultural operation employs methods or practices that are commonly or reasonably associated with agricultural production.

(c) A cause of action shall not arise against and liability shall not be imposed upon a closing agent or a closing agent's employer due to a failure to provide a buyer of real property the written disclosure statement required under subsection (b) of this section.

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Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-11-107. Required disclosure by closing agent - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-11-107/

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