SEC. 89-1-505. Limit on duties and liabilities with respect to information required or delivered.
(1) Neither the transferor nor any listing or selling agent shall be liable for any error, inaccuracy or omission of any information delivered pursuant to sections 89-1-501 through 89-1-523 if the error, inaccuracy or omission was not within the personal knowledge of the transferor or that listing or selling agent, was based on information timely provided by public agencies or by other persons providing information as specified in subsection (2) that is required to be disclosed pursuant to sections 89-1-501 through 89-1-523, and ordinary care was exercised in obtaining and transmitting it.
(2) The delivery of any information required to be disclosed by sections 89-1-501 through 89-1-523 to a prospective transferee by a public agency or other person providing information required to be disclosed pursuant to sections 89-1-501 through 89-1-523 shall be deemed to comply with the requirements of sections 89-1-501 through 89-1-523 and shall relieve the transferor or any listing or selling agent of any further duty under sections 89-1-501 through 89-1-523 with respect to that item of information.
(3) The delivery of a report or opinion prepared by a licensed engineer, land surveyor, geologist, structural pest control operator, contractor or other expert, dealing with matters within the scope of the professional's license or expertise, shall be sufficient compliance for application of the exemption provided by subsection (1) if the information is provided to the prospective transferee pursuant to a request therefor, whether written or oral. In responding to such a request, an expert may indicate, in writing, an understanding that the information provided will be used in fulfilling the requirements of Section 89-1-509 and, if so, shall indicate the required disclosures, or parts thereof, to which the information being furnished is applicable. Where such a statement is furnished, the expert shall not be responsible for any items of information, or parts thereof, other than those expressly set forth in the statement.
SOURCES: Laws, 1993, ch. 407, Sec. 3, eff from and after July 1, 1993.