Louisiana HB1166 mandates property disclosures for vacant residential property in real estate transactions.

Louisiana HB1166 requires sellers of vacant residential property to complete a property disclosure document. This document must be provided to buyers and inform them of known defects. Real estate licensees must also inform buyers and sellers of their duties and rights under the law. The bill defines "vacant residential property" and includes it within the definitions of "property disclosure document," "real estate contract," and "seller." The bill also retains existing exemptions and penalties for non-compliance. Effective January 1, 2027.

Louisiana HB1166 mandates property disclosures for vacant residential property in real estate transactions.

Louisiana HB1166 requires sellers of vacant residential property to complete a property disclosure document. This document must be provided to buyers and inform them of known defects. Real estate licensees must also inform buyers and sellers of their duties and rights under the law. The bill defines "vacant residential property" and includes it within the definitions of "property disclosure document," "real estate contract," and "seller." The bill also retains existing exemptions and penalties for non-compliance. Effective January 1, 2027.