HB 1015

Bill Subjects

Abstract

Real Property and Condominium Flood Disclosures; Requires landlord of residential real property to provide specified information to prospective tenant at or before time rental agreement is executed; specifies how such information must be disclosed; defines “flooding”; provides that if landlord fails to disclose flood information truthfully, tenant may terminate rental agreement by giving written notice of termination to landlord within specified timeframe; defines “substantial loss”; requires landlord to refund tenant all amounts paid in advance for any period after effective date of termination of rental agreement; provides that tenant is still liable for any sum owed to landlord before termination of rental agreement; revises flood information that must be disclosed to prospective purchasers of residential real property; requires developer of residential condominium unit to provide specified information to prospective purchaser at or before time sales contract is executed; specifies how such information must be disclosed.