Sellers of residential real estate must disclose flood risks to potential buyers.

HB 1049 is a Florida bill that mandates sellers of residential real estate to disclose flood risks to potential buyers. It requires sellers to provide a flood disclosure summary at or before the sales contract is executed. This summary must contain a statement about the lack of flood insurance coverage in homeowner's policies, as well as a section for sellers to answer specific questions regarding flood damage to the property. The bill defines "flooding" to include various types of water inundation, and it took effect on October 1, 2024. 

(1)  A seller must provide a purchaser of residential real property with a flood disclosure summary at the time or before the sales contract is executed. The flood disclosure summary must be a form that contains, or is substantially similar to, the following:

(a)  A statement in conspicuous type that says, "Flood Insurance: Homeowner's insurance policies do not include coverage for damage resulting from floods. Please discuss the need to purchase separate flood insurance coverage with your insurance agent."

(b)  A section completed by the seller with the following questions for which the only allowable responses are "Yes" or "No":

1.  Are you aware of damage caused by flooding during your ownership of the property?

2.  Have you ever filed a claim for flood damage to an insurance provider or accepted federal assistance for flood damage?

3.  Do you maintain flood insurance on the property?

(c)  If the seller answers "yes" to subparagraph (b)2., the seller must:

1.  Identify each insurance provider with whom they filed a claim for such flooding.

2.  Explain the nature of all federal assistance they were provided for such flooding or both.

(2)  For the purposes of 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)  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)  Excessive rainfall.