Residential Disclosure

Residential Disclosure

Return To:

General Contractor: (Name & Address)

 

 

 

 

Property Owner or Purchas: (Name & Address)

 

 

 

 

The General Contractor provides t o the Property Owner or Purchaser this disclosure statement as required under Idaho Code § 45 - 525.

In connection with a contract to construct, alter or repair improvements on residential property or a contract to sell newly constructed residential propert y, general contractors are required to advise homeowners or residential property purchasers of their rights under Idaho Code § 45 - 525:

  1. The right, at the reasonable expense of the homeowner or residential real property purchaser, to require that the gen eral contractor obtain lien waivers from any subcontractors providing services or materials to the general contractor;
  2. The right to receive from the general contractor proof that the general contractor has a general liability insurance policy including completed operations in effect and proof that the general contractor has worker ’ s compensation insurance for his employees as required by Idaho law;
  3. The right and opportunity to purchase an extended policy of title insurance from a title company which would provide insurance coverage covering certain liens which may be unfiled or recorded; and
  4. The right to require, at the homeowner or residential real property purchaser ’ s expense, a surety bond in an amount up to the value of the construction proje ct.

Acknowledgement

1

__________________________________ ______________________ _ , the homeowner(s) or residential real property purchaser(s), hereby acknowledge(s) receipt of a copy of this General Contractor Residential Property Disclosure.

Dated this ______ day of _________________, 2______.

Signed

 

 

 

2

PROOF OF SERVICE AFFIDAVIT

I, __________________________, being duly sworn, deposes and says that I am over the age of 18 years old, and that on the _____ day of _____________, 20____, I served the attached Residential Disclosure Notice to the Purchaser or Property Owner identified thereon, at the address identified in the document.

I served the attached document:

[_____]   By personally delivering the notice to the identified parties;

[_____]   By First Class Certified or Registered Mail service, postage prepaid.

State of

County of

Sworn to and subscribed before me, undersigned Notary Public, on the date inscribed to the right of this verification

Notary Public

Signed this ____ day of _________________, 20____.

General Contractor

Signed by:

Title:

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