Bill Text: FL S0484 | 2024 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Flood Disclosure in the Sale of Real Property

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2024-03-04 - Laid on Table, refer to CS/CS/HB 1049 [S0484 Detail]

Download: Florida-2024-S0484-Introduced.html

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       Florida Senate - 2024                                     SB 484
       
       
        
       By Senator Bradley
       
       
       
       
       
       6-00659-24                                             2024484__
    1                        A bill to be entitled                      
    2         An act relating to flood disclosure in the sale of
    3         real property; creating s. 689.302, F.S.; requiring a
    4         seller of real property to disclose in writing certain
    5         flood information to a prospective purchaser before
    6         executing a contract for the sale of the property;
    7         defining the term “flooding”; providing an effective
    8         date.
    9          
   10  Be It Enacted by the Legislature of the State of Florida:
   11  
   12         Section 1. Section 689.302, Florida Statutes, is created to
   13  read:
   14         689.302 Disclosure of flood risks to prospective
   15  purchaser.—A seller of real property, before executing a
   16  contract for sale, shall disclose in writing to a prospective
   17  purchaser all of the following information known to the seller:
   18         (1) Whether the property has suffered damage from flooding
   19  and the number of times the property has been subject to
   20  flooding. For the purposes of this subsection, the term
   21  “flooding” means a general or temporary condition of partial or
   22  complete inundation of the property caused by any of the
   23  following:
   24         (a) The overflow of inland or tidal waters.
   25         (b) The unusual and rapid accumulation of runoff or surface
   26  waters from any established water source, such as a river,
   27  stream, or drainage ditch.
   28         (c) Excessive rainfall.
   29         (2) Whether the property owner has maintained flood
   30  insurance.
   31         (3) Whether any portion of the property is located in a
   32  designated special flood hazard area or moderate risk flood
   33  hazard zone established by the Federal Emergency Management
   34  Agency.
   35         (4) Whether the seller has ever received federal assistance
   36  for flood damage to the property, including, but not limited to,
   37  assistance from the Federal Emergency Management Agency or the
   38  United States Small Business Administration.
   39         (5) Whether the seller has ever filed a claim with an
   40  insurance provider relating to flood damage on the property,
   41  including, but not limited to, a claim with the National Flood
   42  Insurance Program.
   43         (6) Whether a Federal Emergency Management Agency elevation
   44  certificate is available for the property.
   45         Section 2. This act shall take effect July 1, 2024.