Act 250 Disclosure Statement Sheet

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ACT 250 DISCLOSURE STATEMENT
GENERAL INSTRUCTIONS
Prior to the division or partition of land, the seller or other person dividing or partitioning the land shall prepare an “Act 250 Disclosure
Statement.” A person who is dividing or partitioning land, but is not selling it, shall file a copy of the statement with the town clerk, who shall
record it in the land records. The seller who is dividing or partitioning land as part of the sale shall provide the buyer with the statement
within ten days of entering into a purchase and sale agreement for the sale or exchange of land, or at the time of transfer of title, if no
purchase and sale agreement was executed, and shall file a copy of the statement with the town clerk, who shall record it in the land records.
Failure to provide the statement as required shall, at the buyer’s option, render the purchase and sales agreement unenforceable. Do not
send Act 250 Disclosure Statement to the Natural Resources Board.
LINE-BY-LINE INSTRUCTIONS
1. - 7. Subdivider(s)
Be sure to enter the full names and mailing addresses of all Subdivider(s) and Buyer(s). Be certain to complete
and Buyer(s)
all items.
8.
Benefit to Family
Indicate by checking “yes” or “no” whether any family member listed in #6 will derive any profit or consideration,
Members from
or acquire any other beneficial interest from the partition or division of the land which is the subject of this
Subdivider’s
Disclosure Statement. If the family member receives financial support from the subdivider(s), or if the
Transactions
subdivider(s) receive financial support from the family member, there is a presumption of financial benefit and
that person should be listed. If, however, a child is emancipated and is not receiving financial support from the
parent, there is no presumption of benefit and that family member should not be listed.
9.
Affiliated
This includes all persons who are affiliated with the Subdivider in the partition or division of the land in question
Persons
(i.e. derive a profit, consideration or other beneficial interest from the subdivision). However, some individuals
and entities are presumed not to be affiliated with the Subdivider in the subdivision, unless there is substantial
evidence of an intent to evade the purposes of Act 250. These include:
(i) A stockholder in a corporation subdividing land, where the stockholder and the stockholder’s
spouse, children, parents and siblings own less than 5% of the outstanding shares of the
corporation.
(ii) A court-appointed guardian, licensed attorney, real estate broker or salesperson, engineer or
land surveyor, unless the compensation or benefit which they receive for their duties indicates
more than an agency relationship with the Subdivider.
(iii) A chartered lending institution which financed the Subdivider’s purchase or ownership of the land,
provided the financing rate is not substantially higher than the prevailing lending rates in the
community.
10.
Affiliated Land
List all lots or parcels of land partitioned or divided for the purpose of resale by the persons identified in item
Transactions
#9 above within the preceding five years and within the same jurisdictional area of the District Environmental
Commission or within five miles of the land being divided if the previously divided land is in another district (see
map on page 38). Subdivided lots or parcels which were conveyed by these persons prior to July 1, 1987, and
which are more than five miles away from the land being partitioned or divided, need not be listed. List the full
name of the person, the town in which the land is located, a brief description of the land (i.e. undeveloped land,
residential subdivision, lot number, etc.), the number of acres, and the date the lot or parcel was created. Dates
for creation of lots or parcels can include the date a plot plan is filed in the town land records, the date a State
subdivision permit is issued, the date a local subdivision or zoning permit is issued, or in the absence of any of
the above, the date of the legal conveyance of the lot, whichever is later.
11.
Notice That An
With this statement buyers are on notice that the partition or division of land which is the subject of this
Act 250 Permit
Disclosure Statement may be subject to the permit requirements of Act 250. The buyer may request a
May be
jurisdictional opinion from the District Coordinator serving the district in which the land is located regarding the
Required
applicability of Act 250 to this transaction by submitting the Disclosure Statement to the coordinator at the
appropriate Regional Office (see map on page 38).
12.
Act 250 Permit
Enter the Act 250 Land Use Permit Number for this land, if one has been issued. ________
Number

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