Brief Description: The Real Estate Commission (Commission) proposes to adopt regulations changes in Title 12, Chapter 64 of the Alaska Administrative Code, dealing with the consumer disclosure form, the waiver of right to be represented form, and the property disclosure form, which have been updated and are adopted by reference. These changes include:
1. 12 AAC 64.118. Consumer disclosure form, is proposed to be amended to update the date for the Alaska Real Estate Commission Consumer Disclosure form that the commission has adopted by reference.
2. 12 AAC 64.119. Waiver of right to be represented, is proposed to be amended to update the date for the Alaska Real Estate Commission Waiver of Right to be Represented form that the commission has adopted by reference.
3. 12 AAC 64.930. Property disclosure form, is proposed to be amended to update the Residential Real Property Transfer Disclosure Statement form that the commission has adopted by reference to separate out information to add two additional forms to be adopted by reference: Residential Real Property Transfer Disclosure Statement – Exemption for First Sale, and Residential Real Property Transfer Disclosure Statement – Waiver by Agreement, and to update language to include both statutory definitions of “residential real property” in conformance with AS 34.70.200 and AS 34.80.090.
This is a SUPPLEMENTAL NOTICE adding to the NOTICE OF PROPOSED CHANGES issued on November 7, 2023, concerning the above-proposed revisions, contained in Department of Law File No. 2023200418. The department has released this SUPPLEMENTAL NOTICE to advise the public that the department has updated the proposed forms, therefore updating the proposed regulations to note these new changes.
You may comment on the proposed regulation changes, including the potential costs to private persons of complying with the proposed changes, by submitting written comments to Stefanie Davis, Regulations Specialist, Division of Corporations, Business and Professional Licensing, P.O. Box 110806, Juneau, AK 99811-0806. Additionally, the Commission will accept comments by facsimile at (907) 465-2974 and by electronic mail at RegulationsAndPublicComment@alaska.gov. Comments may also be submitted through the Alaska Online Public Notice System by accessing this notice on the system at http://notice.alaska.gov/215697, and using the comment link. The comments must be received not later than 4:30 p.m. on June 24, 2024.
You may submit written questions relevant to the proposed action to Stefanie Davis, Regulations Specialist, Division of Corporations, Business and Professional Licensing, P.O. Box 110806, Juneau, AK 99811-0806 or by e-mail at RegulationsAndPublicComment@alaska.gov. The questions must be received at least 10 days before the end of the public comment period. The Commission will aggregate its response to substantially similar questions and make the questions and responses available on the Alaska Online Public Notice System and on the Commission’s website at https://www.commerce.alaska.gov/web/cbpl/ProfessionalLicensing/RealEstateCommission.aspx.
If you are a person with a disability who needs a special accommodation in order to participate in this process, please contact Stefanie Davis at (907) 465-2537 or RegulationsAndPublicComment@alaska.gov not later than June 17, 2024 to ensure that any necessary accommodation can be provided.
A copy of the proposed regulation changes is available on the Alaska Online Public Notice System and by contacting Stefanie Davis at (907) 465-2537, RegulationsAndPublicComment@alaska.gov, or at https://www.commerce.alaska.gov/web/portals/5/pub/REC-0823-Supplemental.pdf.
A copy of the material proposed for adoption by reference is available on the Alaska Online Public Notice System, at the Commission’s office at the Department of Commerce, Community, and Economic Development, Division of Corporations, Business and Professional Licensing, 550 W. 7th Avenue, Suite 1500, Anchorage, or at
https://www.commerce.alaska.gov/web/portals/5/pub/ConsumerDisclosureForm-0424.pdf;
https://www.commerce.alaska.gov/web/portals/5/pub/WaiverRighttoBeRepresentedForm-0424.pdf;
https://www.commerce.alaska.gov/web/portals/5/pub/PropertyDisclosureForm-0524.pdf;
https://www.commerce.alaska.gov/web/portals/5/pub/ExemptionforFirstSale-0524.pdf;
https://www.commerce.alaska.gov/web/portals/5/pub/WaiverbyAgreement-0524.pdf.
After the public comment period ends, the Commission will either adopt the proposed regulation changes or other provisions dealing with the same subject, without further notice, or decide to take no action. The language of the final regulation may be different from that of the proposed regulation. You should comment during the time allowed if your interests could be affected.
Statutory Authority: AS 08.88.071; AS 08.88.081; AS 08.88.171; AS 08.88.610; AS 08.88.615; AS 08.88.685; AS 34.70.050
Statutes Being Implemented, Interpreted, or Made Specific: AS 08.88.081; AS 08.88.610; AS 08.88.615; AS 08.88.685; AS 34.70.050
Fiscal Information: The proposed regulation changes are not expected to require an increased appropriation.
For each occupation regulated under the Division of Corporations, Business and Professional Licensing, the Division keeps a list of individuals or organizations who are interested in the regulations of that occupation. The Division automatically sends a Notice of Proposed Regulations to the parties on the appropriate list each time there is a proposed change in an occupation's regulations in Title 12 of the Alaska Administrative Code. If you would like your address added to or removed from such a list, send your request to the Division at the address above, giving your name, either your e-mail address or mailing address (as you prefer for receiving notices), and the occupational area in which you are interested.
DATE: 6/13/2024
Stefanie Davis, Regulations Specialist
Division of Corporations, Business and Professional Licensing
ADDITIONAL REGULATION NOTICE INFORMATION
(AS 44.62.190(d))
1. Adopting agency: Department of Commerce, Community, and Economic Development, Division of Corporations, Business and Professional Licensing - Real Estate Commission.
2. General subject of regulation: Updates to forms relating to consumer disclosure, waiver of right to be represented, property disclosure.
3. Citation of regulation: 12 AAC 64.118, 12 AAC 64.119, and 12 AAC 64.930.
4. Department of Law file number: 2023200418.
5. Reason for the proposed action: Update and clarification of current regulations; compliance with state statute.
6. Appropriation/Allocation: Corporations, Business and Professional Licensing – #2360.
7. Estimated annual cost to comply with the proposed action to:
A private person: None known.
Another state agency: None known.
A municipality: None known.
8. Cost of implementation to the state agency and available funding (in thousands of dollars): No costs are expected in FY 2024 or in subsequent years.
9. The name of the contact person for the regulation:
Nancy Harris, Executive Administrator
Alaska Real Estate Commission
Division of Corporations, Business and Professional Licensing
Department of Commerce, Community, and Economic Development
Telephone: (907) 269-8168
E-mail: nancy.harris@alaska.gov
10. The origin of the proposed action: Staff of state agency.
11. Date: 6/13/2024
Prepared by: Stefanie Davis, Regulations Specialist