Florida Senate - 2024                              CS for SB 484
       
       
        
       By the Committee on Judiciary; and Senator Bradley
       
       
       
       
       
       590-02907-24                                           2024484c1
    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 residential real property to provide
    5         specified information to a prospective purchaser at or
    6         before the sales contract is executed; specifying how
    7         such information must be disclosed; providing an
    8         effective 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 must complete and provide a flood disclosure
   16  to a purchaser of residential real property at or before the
   17  time the sales contract is executed. The flood disclosure must
   18  be made in the following form:
   19  
   20                          FLOOD DISCLOSURE                         
   21  
   22         Flood Insurance: Homeowners’ insurance policies do not
   23         include coverage for damage resulting from floods.
   24         Buyer is encouraged to discuss the need to purchase
   25         separate flood insurance coverage with Buyer’s
   26         insurance agent.
   27         (1) Seller is .... is not .... aware of damage to the
   28         property caused by flooding during Seller’s ownership
   29         of the property.
   30         (2) Seller has .... has not .... filed a claim with an
   31         insurance provider relating to flood damage on the
   32         property, including, but not limited to, a claim with
   33         the National Flood Insurance Program.
   34         (3) Seller has .... has not .... received federal
   35         assistance for flood damage to the property,
   36         including, but not limited to, assistance from the
   37         Federal Emergency Management Agency.
   38         (4) Seller does .... does not .... maintain flood
   39         insurance on the property.
   40         (5) For the purposes of this disclosure, the term
   41         “flooding” means a general or temporary condition of
   42         partial or complete inundation of the property caused
   43         by any of the following:
   44         (a) The overflow of inland or tidal waters.
   45         (b) The unusual and rapid accumulation of runoff or
   46         surface waters from any established water source, such
   47         as a river, stream, or drainage ditch.
   48         (c) Sustained periods of standing water resulting from
   49         rainfall.
   50  
   51         Section 2. This act shall take effect October 1, 2024.