Abstract
In Florida, a peninsula surrounded by water with the second-lowest mean elevation in the country, there will be floods.[1] A global study ranking cities most vulnerable to losses from flooding lists Miami first in the United States and sixth globally;Tampa-St. Petersburg is listed as 16th globally.[2] Yet there are no state statutes or regulations in Florida that require a seller or landlord to make flood-related disclosures to homebuyers and renters. In contrast, while varying in scope, 29 states require flood-risk disclosures in real estate transactions.[3] Though Florida should be leading in this arena, in an evaluation of nationwide flood disclosure laws, the Natural Resources Defense Council gave Florida the lowest grade possible because of the lack of measures in place to protect homebuyers and renters.[4] This article provides an overview of the state of flood risk disclosures in real property transactions in Florida, what an ideal disclosure for both rental agreements and sales of residential property[5] would look like, and potential pathways for Florida to mandate flood risk disclosures. As the majority of states have recognized, by disclosing a property’s flood risk, a seller or landlord equips a buyer or renter with the information to prepare for the future and mitigate potential losses. Most importantly, people will be able to make informed decisions about one of the biggest investments they will choose to make in their life — where to live.