Vermont H0106 repeals the requirement for sellers to disclose if real property is in a FEMA flood hazard area.

Vermont H0106 amends the law to remove the obligation for sellers to inform buyers if the real property is in a Federal Emergency Management Agency mapped flood hazard area. This change affects the disclosure requirements for real estate transactions. Buyers who do not receive required information can seek damages and attorney's fees from sellers, including punitive damages if the seller knowingly withheld information. The act applies retroactively to June 17, 2024, and does not affect the marketability of title for noncompliance.

Vermont H0106 repeals the requirement for sellers to disclose if real property is in a FEMA flood hazard area.

Vermont H0106 amends the law to remove the obligation for sellers to inform buyers if the real property is in a Federal Emergency Management Agency mapped flood hazard area. This change affects the disclosure requirements for real estate transactions. Buyers who do not receive required information can seek damages and attorney's fees from sellers, including punitive damages if the seller knowingly withheld information. The act applies retroactively to June 17, 2024, and does not affect the marketability of title for noncompliance.