NEW LAW: Flood Disclosures Now Required For All Sellers Of Property
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Effective October 1, 2024, the Florida Legislature created Florida Statute 689.302 requiring all sellers of real property to disclose to any prospective purchaser specific conditions and history of the property before a sales contract is signed.
The State of Florida has defined flooding for this statute as any one of the following conditions: (1) the overflow of inland or tidal waters, (2) the unusual rapid accumulation of runoff or surface waters from any established source such as a river, stream, or drainage ditch, or (3) sustained periods of standing water resulting from rainfall.
Sellers must include whether they have filed a claim with an insurance provider for Flood Damage. The sellers must also state whether the seller has received any federal assistance including assistance from FEMA for flood damage to the property.
For any assistance with completing this disclosure, or if you are purchasing property and want to better understand the seller’s disclosure, please contact the Real Estate Attorney’s at Barry Miller Law for their expertise.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
