The report of residential building record shall be delivered by the owner, or the authorized designated representative of the owner, to the buyer or transferee of the residential building prior to the consummation of the sale or exchange. The buyer or transferree shall execute a receipt therefor as furnished by the city and the receipt shall be delivered to the building inspection division as evidence of compliance with the provisions of this chapter. (Ord. No. 2219 (NCS), § 1; Ord. No. 2276, § 11(B)).