7 §55. Disclosure required
Title 7: AGRICULTURE AND ANIMALS
Part 1: ADMINISTRATION
Chapter 2-B: REGISTRATION OF FARMLAND HEADING: PL 1989, C. 478, §1 (NEW)
§55. Disclosure required
Every seller of abutting land, as defined in section 52, subsection 1, and every agent of a seller of abutting land must disclose the existence of registered farmland in writing in a purchase and sale agreement for the abutting land. If there is no purchase and sale agreement, the disclosure must be made, in writing, prior to the sales transaction. This section shall not apply unless notice of registration was given in accordance with the provisions of section 53-D. [1989, c. 478, §1 (NEW).]
The existence of the registered farmland shall also be stated on any declaration of value, as provided pursuant to Title 36, section 4641-D, covering the transfer of title to abutting land. [1989, c. 478, §1 (NEW).]
SECTION HISTORY
1989, c. 478, §1 (NEW).