What is my responsibility as a real estate licensee with regard to the disclosure required by § 66-5-211?
Tenn. Code Ann. § 66-5-206 sets forth the duties of real estate licensees under the TRPCDA. This section provides that a licensee representing an owner of residential real property as the listing broker has a duty to inform that owner of the owner’s rights and obligations under the TRPCDA. A licensee representing a purchaser of residential real property or, if the purchaser is unrepresented, the licensee representing the owner and dealing with the purchaser has a duty to inform the purchaser of the purchaser’s rights and obligations under the TRPCDA. In accordance with Tenn. Code Ann. § 66-5-206, a licensee acting as the listing broker for the first sale of a dwelling must inform the owner of his/her duty under Tenn. Code Ann. § 66-5-211 to furnish the purchaser with a statement disclosing the amount of any impact fees or adequate facilities taxes paid to any city or county, regardless of whether the subject property is transferred by sale, exchange, installment land sales contract, or
