No owner of residential real property shall sell, exchange, or transfer that property until a real property report is obtained from the city. The real property report shall include the information required by CMC 15.24.040 and shall serve to identify the status and conditions existing on the subject property with respect to the issuance of required building and other uniform code permits, compliance with health, safety, and property maintenance code requirements, the status of, and detection of, any nonconforming or illegal structures, the existence or nonexistence of any land use approvals, and any fees or charges that constitute or would constitute a lien against the property. The purpose of this real property report is to inform the owner of the residential real property as well as the prospective purchaser or transferee of the above-mentioned matters before the sale, transfer or exchange of residential property is completed. (Ord. 514 § 1. 2002 Code § 9-7.2).