43-13.2 - When an affidavit or a signed statement of payment required of owner prior to sale.
§ 43-13.2. When an affidavit or a signed statement of payment required ofowner prior to sale.
A person who is both the owner of a one- or two-family residential dwellingunit and either a developer of such property, a contractor in connection withthe development or improvement of such property or a contractor orsubcontractor furnishing labor or material in connection with the developmentor improvement of such property shall, at the time of settlement on the saleof such property, provide the purchaser with an affidavit or a signedstatement attested to by a witness stating either (i) that all personsperforming labor or furnishing materials in connection with the improvementson such property and with whom such owner is in privity of contract have beenpaid in full or (ii) the name, address and amount payable or claimed to bepayable to any person so performing labor or furnishing materials and withwhom such owner is in privity of contract. Willful failure to provide suchstatement or any willful material misrepresentation with respect to such astatement which causes a monetary loss to a financial institution, titlecompany, contractor, subcontractor, supplier, owner, mechanics' lien agent orany other person or institution shall be punishable as a Class 5 felony.
(1992, cc. 779, 787; 2003, c. 400.)