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Wisconsin Statutes Regulation and Licensing (Ch. 440 to 480) § 452.23. Disclosures and inspections by brokers and salespersons

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) No licensee may disclose to any person in connection with the sale, exchange, purchase, or rental of real property information, the disclosure of which constitutes unlawful discrimination in housing under s. 106.50 or unlawful discrimination based on handicap under 42 USC 3604, 3605, 3606, or 3617.

(2) A licensee is not required to disclose any of the following to any person in connection with the sale, exchange, purchase, or rental of real property:

(a) That the property was the site of a specific act or occurrence, if the act or occurrence had no effect on the physical condition of the property or any structures located on the property.

(b) Except as provided in sub. (3), information relating to the physical condition of the property or any other information relating to the real estate transaction, if a written report that discloses the information has been prepared by a qualified 3rd party and provided to the person. In this paragraph, “qualified 3rd party” means a federal, state, or local governmental agency, or any person whom the licensee or a party to the real estate transaction reasonably believes has the expertise necessary to meet the industry standards of practice for the type of inspection or investigation that has been conducted by the 3rd party in order to prepare the written report.

(c) The location of any adult family home, as defined in s. 50.01(1), community-based residential facility, as defined in s. 50.01(1g), or nursing home, as defined in s. 50.01(3), in relation to the location of the property.

(d) Except as provided in s. 452.24, any information related to the fact that a particular person is required to register as a sex offender under s. 301.45 or any information about the sex offender registry under s. 301.45.

(3) A licensee shall disclose to the parties to a real estate transaction any facts known by the licensee that contradict any information included in a written report described under sub. (2)(b).

(4) In performing an inspection and in making a disclosure in connection with a real estate transaction, a licensee shall exercise the degree of care expected to be exercised by a reasonably prudent person who has the knowledge, skills, and training required for licensure under this chapter.

(5) A licensee that in good faith provides information attributable to a state or local governmental or quasi-governmental entity, including an agency, department, board, commission, bureau, or division, or a military or public safety organization, may not be held civilly liable if that information is subsequently determined to be inaccurate, unless the licensee knew the information was inaccurate at the time the licensee provided the information. For the purpose of any proceeding, the good faith shall be presumed.

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Cite this article: FindLaw.com - Wisconsin Statutes Regulation and Licensing (Ch. 440 to 480) § 452.23. Disclosures and inspections by brokers and salespersons - last updated January 01, 2025 | https://codes.findlaw.com/wi/regulation-and-licensing-ch-440-to-480/wi-st-452-23/

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