Real Estate Instructors Seminar Connecticut Law Update Katherine A. Pancak, University of Connecticut March 30, 2007 Connecticut 2007 Legislative Session is not over until June 6, Bills reported on here may or may not pass into law; other new bills may still be introduced. Information on Connecticut Bills and Public Acts can be found at

REAL ESTATE BROKERAGE Licensing Licensing (1) Allows licensee candidates unlimited times within a one year to take the licensing exam (vs. four times); however provision for annual renewal of eligibility is eliminated. (1) Allows licensee candidates unlimited times within a one year to take the licensing exam (vs. four times); however provision for annual renewal of eligibility is eliminated. (2) Eliminates $25 fee for duplicate copy of a license certificate. (2) Eliminates $25 fee for duplicate copy of a license certificate. HB 6992, active. HB 6992, active. License Fees License Fees Reduces the annual license renewal fees by $3 (broker - from $300 to $297; salespersons - from $225 to $222). Reduces the annual license renewal fees by $3 (broker - from $300 to $297; salespersons - from $225 to $222). SB 110, active. SB 110, active. Course Approval Fees Course Approval Fees Imposes a $25 fee for course approval. Imposes a $25 fee for course approval. SB 114; appears inactive. SB 114; appears inactive.

DISCLOSURES Additional Disclosures Additional Disclosures Requires disclosure of flood hazard areas, airports, special tax assessment areas, known or potential radon gas zones, and environmental hazards superfund sites. Requires disclosure of flood hazard areas, airports, special tax assessment areas, known or potential radon gas zones, and environmental hazards superfund sites. SB 772; active. SB 772; active. Environmental Hazard Disclosure Statement Environmental Hazard Disclosure Statement Requires seller to deliver a statement about whether property is located on or neat an environmentally contaminated site; seller and agent liability limited for non-fraudulent errors based on public information. Requires seller to deliver a statement about whether property is located on or neat an environmentally contaminated site; seller and agent liability limited for non-fraudulent errors based on public information. HB 6859; active. HB 6859; active. Sinkholes Sinkholes Adds sinkholes to current property condition disclosure form. Adds sinkholes to current property condition disclosure form. SB 71; appears inactive. SB 71; appears inactive. Gun or Hunting Clubs Gun or Hunting Clubs Requires seller’s agent to make written disclosure to buyer about presence of gun club or hunting club located within one mile of property. Requires seller’s agent to make written disclosure to buyer about presence of gun club or hunting club located within one mile of property. SB 283, active. SB 283, active. Title Insurance Title Insurance Requires attorneys representing buyers to make disclosures about options and necessity of title insurance. Requires attorneys representing buyers to make disclosures about options and necessity of title insurance. SB 832; appears inactive. SB 832; appears inactive. Mortgage Referral Fees Mortgage Referral Fees Requires mortgage brokers and real estate agents to disclosure that they are not giving or receiving a referral fee; failure could lead to license revocation. Requires mortgage brokers and real estate agents to disclosure that they are not giving or receiving a referral fee; failure could lead to license revocation. HB 5344; active. HB 5344; active.

OTHER Department of Housing Department of Housing Reestablishes DOH. Reestablishes DOH. HB 5049; active. HB 5049; active. Assignment of Rents Assignment of Rents Adopts the Uniform of Assignment of Rents Act. Adopts the Uniform of Assignment of Rents Act. SB 2007, active. SB 2007, active. Foreclosure Protection Foreclosure Protection Protects homeowners against equity skimming. Protects homeowners against equity skimming. HB 5222, active. HB 5222, active. Electronic Recording Electronic Recording Allows towns to prepare for electronic recording of documents. Allows towns to prepare for electronic recording of documents. SB 594; active. SB 594; active. Conveyance Tax Conveyance Tax Numerous bills have been proposed dealing with conveyance tax. Numerous bills have been proposed dealing with conveyance tax. ?!?! ?!?! Eminent Domain Eminent Domain Numerous bills have been proposed dealing with eminent domain. Numerous bills have been proposed dealing with eminent domain. ?!?! ?!?!