SB 484 — Flood Disclosure in the Sale of Real Property

Florida Senate - 2024 CS for SB 484 By Senator Bradley 6-00659-24 2024484__ A bill to be entitled An act relating to flood disclosure in the saleCommittee ofon realJudiciary; property;

and Senator Bradley 590-02907-24 2024484c1 A bill to be entitled An act relating to flood disclosure in the sale of real property;

requiring a seller of residential real property to discloseprovide inspecified writing certain flood information to a prospective purchaser beforeat executingor abefore contract for the salesales ofcontract theis property;executed;

definingspecifying thehow termsuch “flooding”;information must be disclosed;

689.302 Disclosure of flood risks to prospective purchaser.—A seller ofmust realcomplete property,and beforeprovide executing a contractflood fordisclosure sale,to shalla disclosepurchaser inof writingresidential toreal aproperty prospectiveat purchaseror allbefore of the followingtime informationthe knownsales tocontract theis seller:executed.

(1)The Whetherflood thedisclosure propertymust hasbe sufferedmade damagein from flooding and the numberfollowing ofform: times the property has been subject to flooding.

ForFLOOD theDISCLOSURE purposesFlood ofInsurance: this subsection, the term “flooding” means a general or temporary condition of partial or complete inundation of the property caused by any of the following:

(a)Homeowners’ Theinsurance overflowpolicies ofdo inlandnot orinclude tidalcoverage waters.for damage resulting from floods.

(b)Buyer Theis unusualencouraged andto rapiddiscuss accumulationthe ofneed runoffto orpurchase surfaceseparate watersflood frominsurance anycoverage establishedwith waterBuyer’s source,insurance suchagent. as a river, stream, or drainage ditch.

(c)(1) ExcessiveSeller rainfall.is ....

(2)is Whethernot the.... property owner has maintained flood Page 1 of 2 CODING:

aware of damage to the property caused by flooding during Seller’s ownership of the property.

Page 1 of 2 CODING:

Florida Senate - 2024 CS for SB 484 6-00659-24590-02907-24 2024484__2024484c1 insurance.(2) Seller has ....

(3)has Whethernot any.... portion of the property is located in a designated special flood hazard area or moderate risk flood hazard zone established by the Federal Emergency Management Agency.

(4)filed Whethera theclaim sellerwith hasan everinsurance receivedprovider federalrelating assistanceto for flood damage toon the property, including, but not limited to, assistancea fromclaim thewith Federal Emergency Management Agency or the UnitedNational StatesFlood SmallInsurance BusinessProgram. Administration.

(5)(3) WhetherSeller the seller has ever.... filed a claim with an insurance provider relating to flood damage on the property, including, but not limited to, a claim with the National Flood Insurance Program.

(6)has Whethernot a.... Federal Emergency Management Agency elevation certificate is available for the property.

received federal assistance for flood damage to the property, including, but not limited to, assistance from the Federal Emergency Management Agency.

(4) Seller does ....

does not ....

maintain flood insurance on the property.

(5) For the purposes of this disclosure, the term “flooding” means a general or temporary condition of partial or complete inundation of the property caused by any of the following:

(a) The overflow of inland or tidal waters.

(b) The unusual and rapid accumulation of runoff or surface waters from any established water source, such as a river, stream, or drainage ditch.

(c) Sustained periods of standing water resulting from rainfall.

This act shall take effect JulyOctober 1, 2024.