The Rhode Island General Assembly is considering legislation that would require radon testing to be performed within one year prior to the closing of any residential real estate transactions.
The bill, HB 8335, states, “As a prerequisite to a legally enforceable purchase and sales agreement for residential real estate transactions not covered in subsection (b) of this section, a radon test shall be performed no earlier than one year prior to the closing date of the residential real estate transaction.”
Transactions would not require a radon test if the transaction is:
- “By a lender or an affiliate or subsidiary lender that acquired the home by foreclosure or deed in lieu of foreclosure;
- “A sheriff’s sale, tax sale, or sale by foreclosure, partition, or by court appointed trustee;
- “A transfer of a home to be converted by the buyer into a use other than residential or to be demolished; or
- “A devise pursuant to a will or an intestate inheritance.”
The results of the radon test would need to be made available to the selling and buying parties as well as any lender designated by the buying parties. The selling party would have to cover the cost of the radon test and would have to permit the buyer to have a radon test performed, at the buyer’s expense, independent of the mandatory test.
The bill states, “In the event that a radon test conducted at the direction of either party yields a result indicating unsafe radon levels, a radon mitigation system shall be installed, by a certified or licensed individual in accordance with § 23-61-5, prior to the closing of the residential real estate transaction.”
The selling party would be responsible for paying for the installation of the radon mitigation system.
It further states, “After the installation of the radon mitigation system, but prior to the closing, a radon test shall be performed to ensure the effectiveness of the radon mitigation system. The selling party shall be responsible for the costs of this radon test, and, if requested, must permit the buyer to conduct an additional radon test, at the buyer’s own expense.”