Search This Blog

Wednesday, December 14, 2011

New Seller Vacant Land Real Estate Condition Report-Mandatory

2011 Wisconsin Act 107
Vacant Land Condition Report



On December 7, 2011, Gov. Scott Walker signed legislation into law that requires sellers of vacant land to complete a vacant land condition report (VLCR) at the time of the sale. The new law, 2011 Wisconsin Act 107, requires all sellers of vacant land to complete the VLCR, except for persons who are exempt under current law, which are personal representatives, trustees, conservators and fiduciaries appointed by the court. The new law will go into effect July 1, 2012, and it received overwhelming bipartisan support in the legislature.

Read more about this new law here:  www.wra.org/2011VacantLand_Memo

No comments: