Terms used in §§ 43-4-38 to 43-4-44, inclusive, mean:
- (1) "Buyer," a person negotiating or attempting to become an owner of residential real property by means of a transfer which is subject to §§ 43-4-38 to 43-4-44, inclusive;
- (2) "Disclosure statement," the property condition disclosure statement as provided in § 43-4-44;
- (3) "Residential real property," all residential real property consisting of not more than four family dwelling units, all of which are contained in one structure;
- (4) "Seller," an owner of residential real property;
- (5) "Transfer," a sale, exchange, installment sale contract, lease with an option to purchase, other option to purchase, or a ground lease coupled with improvements.
Source: SL 1993, ch 325 , § 1; SL 1994, ch 337 , § 1.