Title: Flood Disclosures for Residential and Commercial Property Sales

Summary: Requiring a seller of residential or commercial property to disclose in writing certain flood information to a prospective purchaser before executing a contract for the sale of the property, etc.

Full Text:
An act relating to flood disclosures for residential and commercial property sales; creating s. 689.302, F.S.; requiring a seller of residential or commercial property to disclose in writing certain flood information to a prospective purchaser before executing a contract for the sale of the property; providing an effective date. Be It Enacted by the Legislature of the State of Florida: Section 1. Section 689.302, Florida Statutes, is created to read: 689.302   Disclosure of flood risks to prospective purchaser. A seller of residential or commercial property, before executing a contract for sale, shall disclose in writing to a prospective purchaser all of the following information known to the seller: (1)   Whether the property has suffered water damage or moisture-related damage caused by a natural flood event within the last years. (2)   Whether the property owner has maintained flood insurance. (3)   Whether any portion of the property is located in or near a designated flood hazard zone established by the Federal Emergency Management Agency. Section 2. This act shall take effect July 1, 2023.