Committee approves HB 1347 to clarify brokers' trust‑account duties, add local historic‑easement disclosure to sales form

At a meeting of the Indiana House Financial Institutions Committee, members passed House Bill 1347 as amended to clarify a broker's duty to maintain a trust account and to add disclosure of locally designated historic‑district restrictions and deed‑running preservation easements to the residential seller’s disclosure form.

Representative Ed Clere, the bill's presenter, said the bill has two parts: it clarifies that a real estate broker must maintain a trust account for earnest money and other transactional funds, and it adds two items to the residential sales disclosure to ensure buyers know of restrictions that "run with the deed," such as…