H-3913.2          _______________________________________________

                                  HOUSE BILL 2346

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State of Washington              54th Legislature             1996 Regular Session

By Representatives R. Fisher, Rust, Wolfe, Murray, Dickerson, Chopp, Mason and Linville

Read first time 01/10/96.  Referred to Committee on Commerce & Labor.

Warning consumers about real estate.

     AN ACT Relating to consumer warnings on the conveyance of real property; and amending RCW 64.04.020.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

     Sec. 1.  RCW 64.04.020 and 1929 c 33 s 2 are each amended to read as follows:

(1) Every deed shall be in writing, signed by the party bound thereby, and acknowledged by the party before some person authorized by ((this act)) chapter 64.08 RCW to take acknowledgments of deeds.

(2) On and after January 1, 1997, every deed shall contain the following statement:

"Investment in real estate is speculative and not guaranteed by the government.  Market conditions, restrictions on the use of real estate in existence when real estate is acquired, and other factors affecting the value of real estate are subject to change."

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