Flood Disclosures

Flood Disclosures; Requires landlords of residential real property, developers of residential condominium & cooperative units, & mobile home park owners to provide specified information to prospective tenant, lessee, or purchaser at or before time certain rental agreement or sales contract is executed; specifies how such information must be disclosed; defines “flooding”; authorizes tenant or lessee to terminate certain rental agreements under certain circumstances; defines “substantial loss or damage”; requires landlord or mobile home park owner to refund tenant or lessee all amounts paid in advance for any period after effective date of termination of certain rental agreement; provides that tenant or lessee is still liable for any sum owed to landlord or mobile home park owner before termination of such rental agreement; revises flood information that must be disclosed to prospective purchasers of residential real property.