Senate Bill sb0964c2

    Florida Senate - 2005                     CS for CS for SB 964

    By the Committees on Regulated Industries; Environmental
    Preservation; and Senators Smith and Dockery




    580-2130-05

  1                      A bill to be entitled

  2         An act relating to disclosures in connection

  3         with the sale of coastal property; amending s.

  4         161.57, F.S.; revising requirements for the

  5         disclosures that must be provided by a seller

  6         of coastal property to the purchaser; providing

  7         for the effect of failure to deliver a

  8         disclosure, affidavit, or survey; providing an

  9         effective date.

10  

11  Be It Enacted by the Legislature of the State of Florida:

12  

13         Section 1.  Section 161.57, Florida Statutes, is

14  amended to read:

15         161.57  Coastal properties disclosure statement.--

16         (1)  The Legislature finds that it is necessary to

17  ensure that the purchasers of interests in real property

18  located in coastal areas partially or totally seaward of the

19  coastal construction control line as defined in s. 161.053 are

20  fully apprised of the character of the regulation of the real

21  property in such coastal areas and, in particular, that such

22  lands are subject to frequent and severe fluctuations.

23         (2)  At or prior to the time a seller and a purchaser

24  both execute a contract for sale and purchase of any interest

25  in real property located partially or totally seaward of the

26  coastal construction control line as defined in s. 161.053,

27  the seller shall give a written disclosure statement in the

28  following form to the prospective purchaser which may be set

29  forth in the contract or in a separate writing:

30  

31  

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2005                     CS for CS for SB 964
    580-2130-05




 1  The property being purchased may be subject to coastal erosion

 2  and to federal, state, or local regulations that govern

 3  coastal property, including the delineation of the coastal

 4  construction control line, rigid coastal protection

 5  structures, beach nourishment, and marine turtles. Additional

 6  information can be obtained from the Florida Department of

 7  Environmental Protection, including whether there are

 8  significant erosion conditions associated with the shoreline

 9  of the property being purchased.

10         (3)(2)  Unless otherwise waived in writing by the

11  purchaser, at or prior to the closing of any transaction where

12  an interest in real property located either partially or

13  totally seaward of the coastal construction control line as

14  defined in s. 161.053 is being transferred, the seller shall

15  provide to the purchaser an affidavit, or a survey meeting the

16  requirements of chapter 472, delineating the location of the

17  coastal construction control line on the property being

18  transferred.

19         (4)  A seller's failure to deliver the disclosure,

20  affidavit, or survey required by this section does not impair

21  the enforceability of the sale and purchase contract by either

22  party, create any right of rescission by the purchaser, or

23  impair the title to any such real property conveyed by the

24  seller to the purchaser.

25         Section 2.  This act shall take effect July 1, 2005.

26  

27  

28  

29  

30  

31  

                                  2

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2005                     CS for CS for SB 964
    580-2130-05




 1          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 2                      CS for Senate Bill 964

 3                                 

 4  The committee substitute for committee substitute (CS/CS) does
    not amend the legislative findings in s. 161.57(1),F.S.  The
 5  CS/CS does not require an affidavit for the disclosure.

 6  The CS/CS requires the disclosure prior to the time a seller
    and a purchaser both execute a contract for the sale and
 7  purchase of the real property.

 8  The CS/CS provides the form for the required disclosure.

 9  The CS/CS provides that the disclosure may be set forth in the
    contract or in a separate writing.
10  
    The CS/CS also provides for the effect of failure to deliver
11  the disclosure, affidavit, or survey required by s. 161.57,
    F.S.
12  

13  

14  

15  

16  

17  

18  

19  

20  

21  

22  

23  

24  

25  

26  

27  

28  

29  

30  

31  

                                  3

CODING: Words stricken are deletions; words underlined are additions.