05/10/1994 09:40 AM Senate RLS

 CHAIRMAN HALFORD brought  CSHB 517(JUD)  (REAL PROPERTY TRANSFERS)            
 before the committee as the next order of business.                           
                                                                               
 JOSH FINK, aide to Senator Tim Kelly who introduced the Senate                
 companion bill to HB 517, explained the legislation will remove               
 real estate professionals from liability of innocent                          
 misrepresentation in real property transactions.  In 1982 the                 
 Supreme Court ruled that brokers who make an innocent                         
 misrepresentation to a purchaser of real property are liable for              
 the misrepresentation, and HB 517 will correct that decision.  He             
 emphasized that the due diligence responsibility of brokers still             
 applies and this strictly applies to an innocent misrepresentation.           
                                                                               
 SENATOR JACKO moved that CSHB 517(JUD) be passed out of committee             
 with individual recommendations.   Hearing no objection, it was so            
 ordered.                                                                      
                                                                               
 SENATOR JACKO moved and asked unanimous consent that CSHB 517(JUD)            
 be approved for calendaring at the Chair's discretion.  Hearing no            
 objection, it was so ordered.