Bill Text: FL S1474 | 2020 | Regular Session | Introduced

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Bill Title: Required Flood Disclosures for Real Property Sales

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2020-03-14 - Died in Banking and Insurance [S1474 Detail]

Download: Florida-2020-S1474-Introduced.html

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       Florida Senate - 2020                                    SB 1474
       
       
        
       By Senator Taddeo
       
       
       
       
       
       40-01317-20                                           20201474__
    1                        A bill to be entitled                      
    2         An act relating to required flood disclosures for real
    3         property sales; creating s. 689.301, F.S.; requiring a
    4         seller of real property to disclose certain flood
    5         information to a prospective purchaser before
    6         executing a contract for the sale of the property;
    7         providing an effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Section 689.301, Florida Statutes, is created to
   12  read:
   13         689.301 Disclosure of flood risks to prospective
   14  purchaser.—Before executing a contract for sale, a seller of
   15  real property shall disclose to a prospective purchaser all of
   16  the following information that is known to the seller:
   17         (1) If the real property has ever suffered water damage or
   18  moisture-related damage that was caused by a natural flood
   19  event.
   20         (2) If the property has ever had standing water in the
   21  front, rear, or side yards for more than 48 hours following a
   22  heavy rain.
   23         (3) If any portion of the property is currently located in
   24  or near a Federal Emergency Management Agency-designated flood
   25  hazard zone.
   26         Section 2. This act shall take effect July 1, 2020.