TITLE 55

PROPERTY IN GENERAL

CHAPTER 25

PROPERTY CONDITION DISCLOSURE ACT

55-2505.  Exemptions. The provisions of this chapter do not apply to any transfer of residential real property that is any of the following:

(1)  A transfer pursuant to court order including, but not limited to, a transfer ordered by a probate court during the administration of a decedent’s estate, a transfer pursuant to a writ of execution, a transfer by a trustee in bankruptcy, a transfer as a result of the exercise of the power of eminent domain, and a transfer that results from a decree for specific performance of a contract or other agreement between persons;

(2)  A transfer to a mortgagee by a mortgagor by deed in lieu of foreclosure or in satisfaction of the mortgage debt;

(3)  A transfer to a beneficiary of a deed of trust by a trustor in default;

(4)  A transfer by a foreclosure sale that follows a default in the satisfaction of an obligation secured by a mortgage;

(5)  A transfer by a sale under a power of sale following a default in the satisfaction of an obligation that is secured by a deed of trust or another instrument containing a power of sale occurring within one (1) year of foreclosure on the default;

(6)  A transfer by a mortgagee, or a beneficiary under a deed of trust, who has acquired the residential real property at a sale conducted pursuant to a power of sale under a mortgage or a deed of trust or who has acquired the residential real property by a deed in lieu of foreclosure;

(7)  A transfer by a fiduciary in the course of the administration of a decedent’s estate, a guardianship, a conservatorship, or a trust;

(8)  A transfer from one (1) co-owner to one (1) or more other co-owners;

(9)  A transfer made to the transferor’s spouse or to one (1) or more persons in the lineal line of consanguinity of one (1) or more of the transferors;

(10) A transfer between spouses or former spouses as a result of a decree of divorce, dissolution of marriage, annulment, or legal separation or as a result of a property settlement agreement incidental to a decree of divorce, dissolution of marriage, annulment, or legal separation;

(11) A transfer to or from the state, a political subdivision of the state, or another governmental entity;

(12) A transfer that involved newly constructed residential real property that previously has not been inhabited, except that disclosure of annexation and city service status shall be declared by the sellers of such newly constructed residential real property in accordance with the provisions of section 55-2508, Idaho Code;

(13) A transfer to a transferee who has occupied the property as a personal residence for one (1) or more years immediately prior to the transfer;

(14) A transfer from a transferor who both has not occupied the property as a personal residence within one (1) year immediately prior to the transfer and has acquired the property through inheritance or devise;

(15) A transfer by a relocation company to a transferee within one (1) year from the date that the previous owner occupied the property;

(16) A transfer from a decedent’s estate.

History:

[55-2505, added 1994, ch. 366, sec. 1, p. 1174; am. 1997, ch. 229, sec. 3, p. 669; am. 2002, ch. 333, sec. 4, p. 944.]