542B.35 Exception — real property inspection report. 1. 'Real property inspection report' means a report stating whether, after visual examination, a parcel of real property which is being collateralized is materially impaired. 2. A real property inspection report is not a property survey or an engineering document and is exempt from the provisions of this chapter and the rules adopted under this chapterwhich apply to property surveys. A real property inspection report shall not be filed orrecorded with the county recorder. The real property inspection report shall include all ofthe following: a. A clear and prominent statement of disclosure to the buyer that the real property inspection report is not a property survey or an engineering document and should not berelied upon as such, and that property boundaries shown may be approximate only. b. A clear and prominent statement that the report is for the use of the mortgage lender or its assigns and determination of the actual placement of boundary lines should be addressedby a property survey in accordance with the provisions of this chapter. 3. the use of the mortgage lender or its assigns and determination of the actual placement of boundary lines should be addressedby a property survey in accordance with the provisions of this chapter. 3. A person who completes the real property inspection report shall not claim to be a licensed professional land surveyor or a licensed professional engineer for purposes of thereport. 90 Acts, ch 1060, §1C91, §114.35C93, §542B.3596 Acts, ch 1055, §5; 97 Acts, ch 23, §66; 2012 Acts, ch 1009, §24; 2013 Acts, ch 30, §135 Sat Dec 23 01:45:07 2023 Iowa Code 2024, Section 542B.35 (22, 0)
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