Plain English Breakdown
The bill text provided is a PDF binary stream and unreadable; facts are drawn solely from the summary and metadata.
HB618: Flood Damage Disclosure for Real Estate Sellers
This bill requires sellers of real property in Georgia to tell buyers if the home has had flood damage.
What This Bill Does
- Requires any seller of real property in this state to make certain disclosures regarding flood damage.
- Provides a definition for terms used in these rules.
- States that flood damage is an adverse material fact.
Who It Names or Affects
- Sellers of real property in Georgia
- Buyers purchasing real property in Georgia
Terms To Know
- Real property
- Land and anything built on it.
- Disclosure
- The act of telling someone important facts about something they are buying.
- Adverse material fact
- A serious detail that could lower a property's value or make it less safe to buy, such as flood damage.
Limits and Unknowns
- The official summary does not list the specific penalties for breaking these rules.
- The exact details of how sellers must share this information are not described in the provided text.
- The bill has been tabled multiple times, and its final status as law is uncertain based on the latest action listed.