New law: Property requires notification to identify whether it is in the 100 year floodplain [U.S.A]
A new law routing from HB 531, was put in place from the new year.
This notice means that sellers must indicate, by using the Federal Emergency Management flood map, whether the unit that is being sold is located within a 100 year floodplain.
This is so renters and buyers can purchase flood insurance , this is necessary as renters insurance or home insurance does not cover this.
The director of marketing communications for the ITEX group said : “ ..transformational experiences for our tenants, starting with transparency and preparedness.”
Do you think it should be imposed in the U.K?
Locals reacts to new law requiring notification if property is in 100-year floodplain – InsuranceNewsNet