558A.6 Liability under the chapter. A person who violates this chapter shall be liable to a transferee for the amount of actual damages suffered by the transferee, but subject to the following limitations: 1. The transferor, or a broker or salesperson, shall not be liable under this chapter for the error, inaccuracy, or omission in information required in a disclosure statement, unless thatperson has actual knowledge of the inaccuracy, or fails to exercise ordinary care in obtainingthe information. 2. The person submitting a report or opinion within the scope of the person’s practice, profession, or expertise, as provided in section 558A.4, for purposes of satisfying thedisclosure statement, shall not be liable under this chapter for any matter other than a matterwithin the person’s practice, profession, or expertise, and which is required by the disclosurestatement, unless the person failed to use care ordinary in the person’s profession, practice,or area of expertise in preparing the information. 93 Acts, ch 30, §8 Sat Dec 23 11:05:57 2023 Iowa Code 2024, Section 558A.6 (16, 0)
Iowa Legal Code