As you may be aware, we’ve been expecting an updated Seller’s Disclosure from the Indiana Professional Licensing Agency and Real Estate Commission based on several recent changes to state law (and an ongoing general review of the form). While the Seller's Disclosure is required and issued by the State of Indiana, IAR makes it available in our library via our licensed forms providers for the convenience of members.

This revised Seller’s Residential Real Estate Disclosure (Form #46234 ) was released last week by the Professional Licensing Agency and is now available via ZipForm in the IAR forms library. (An earlier version of the form posted by PLA required the addition of a signature line on the third page; the current form is considered final.)

In this video update, Legal and Regulatory Compliance Counsel Anne Johnson explains the key changes made to the Seller's Disclosure:

In summary, the updated Seller's Disclosure includes:

While the revised form is or will soon be available via all of our licensed providers, you may also download a copy for review by clicking below:

We are advising brokerages to update their active listing agreements executed on or after July 1st to the new state seller’s disclosure form. Of course, we acknowledge the lag between the effective date and the release of the appropriate form by the PLA, but replacing current agreements with the new form is still the prudent step to reduce liability under state law.

However, if a property listed on or after July 1st already has an accepted offer and is currently pending, we do not advise any change to the listing agreement.

Further questions about the Seller’s Disclosure and related issues can be directed to the IAR Legal Hotline at 1-800-444-5472 if you are a Managing Broker or a designated agent.