558A.3 Good faith and amendments. 1. All information required by this section and rules adopted by the commission shall be disclosed in good faith. If at the time the disclosure is required to be made, informationrequired to be disclosed is not known or available to the transferor, and a reasonable efforthas been made to ascertain the information, an approximation of the information may beused. The information shall be identified as an approximation. The approximation shall bebased on the best information available at the time. 2. A disclosure statement shall be amended, if information disclosed in the statement is or becomes inaccurate or misleading, or is supplemented. The amended statement shallbe subject to the same procedures as the original disclosure statement as provided in thischapter. However, the statement is not required to be amended if either of the followingapplies: a. The information disclosed in conformance with this chapter is subsequently rendered inaccurate as a result of an act, occurrence, or agreement subsequent to the delivery of thedisclosure statement. b. The information is based on information of a public agency, including the state, a political as a result of an act, occurrence, or agreement subsequent to the delivery of thedisclosure statement. b. The information is based on information of a public agency, including the state, a political subdivision of the state, or the United States. The information shall be deemedto be accurate and complete, unless the transferor or the broker or salesperson has actualknowledge of an error, inaccuracy, or omission, or fails to exercise ordinary care in obtainingthe information. 93 Acts, ch 30, §5 Sat Dec 23 11:05:55 2023 Iowa Code 2024, Section 558A.3 (16, 0)
Iowa Legal Code