70-20-505. Purpose of disclosure statement. (1) A disclosure statement as provided in 70-20-502 does not constitute a warranty of any kind by the seller or the real estate agent or other authorized representative of the seller.

(2) The disclosure statement must be considered a disclosure by the seller only and not the real estate agent or other authorized representative of the seller.

(3) The seller may not be responsible for misstatements or errors in a disclosure statement that are based on information a seller obtained from a reliable third-party, including a local governing agency.