Vermont H 827: An act relating to the beverage container redemption system

Bill Text

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VT LEG #385185 v.1
H.827 1
Introduced by Representative Micklus of Milton 2
Referred to Committee on 3
Date: 4
Subject: Property; conveyance of real estate; flooding disclosure 5
Statement of purpose of bill as introduced: This bill proposes to authorize a 6
seller of real property who has never resided on the property while under the 7
seller’s possession to notify a potential buyer that the seller cannot affirm 8
whether the property was subject to flooding or flood damage while the seller 9
possessed the property. 10
An act relating to flooding disclosures when conveying real estate 11
It is hereby enacted by the General Assembly of the State of Vermont: 12
Sec. 1. 27 V.S.A. § 380 is amended to read: 13
§ 380. DISCLOSURE OF INFORMATION; CONVEYANCE OF REAL 14
ESTATE 15
(a) Prior to or as part of a contract for the conveyance of real property, the 16
seller shall provide the buyer with the following information: 17
(1) [Repealed.] 18
(2) [Repealed.] 19

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VT LEG #385185 v.1
(3) a physical or electronic copy or a digital link of the official flood 1
insurance rate map, as published by the Federal Emergency Management 2
Agency, or notice that a flood insurance rate map is unavailable effective for 3
the community in which the real property is located; 4
(4) whether the real property was subject to flooding or flood damage 5
while the seller possessed the property, including flood damage from 6
inundation or from flood-related erosion or landslide damage; and 7
(5) whether the seller maintains or is required by federal or State law to 8
maintain flood insurance on the real property. 9
* * * 10
(f)(1) If a seller of real property has never physically resided on the real 11
property subject to a contract for conveyance, the seller may satisfy the 12
requirement of subdivision (a)(4) of this section by notifying the buyer in 13
writing that the seller has not physically resided on the property and therefore 14
cannot affirm whether the property was subject to flooding or flood damage 15
while the seller possessed the property. 16
(2) This subsection shall not relieve a seller from the disclosure 17
requirements of subdivision (a)(4) of this section when the seller has 18
knowledge that the property was subject to flooding or flood damage while the 19
seller possessed the property, including flood damage from inundation or from 20
flood-related erosion or landslide damage. 21

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VT LEG #385185 v.1
Sec. 2. EFFECTIVE DATE 1
This act shall take effect on passage. 2