Natural Hazard Disclosure Statement
Overview of this form
The Natural Hazard Disclosure Statement is a document that informs the buyer of a real estate property about potential natural hazards affecting the property. This form is essential for protecting buyers from unknowingly purchasing properties located in areas prone to disasters such as floods, earthquakes, hurricanes, or tornadoes. Unlike other real estate disclosures, this statement focuses specifically on environmental risks, providing buyers with crucial information that can impact their investment decisions.
Key components of this form
- Property details: Includes street address, city, state, and zip code.
- Disclosure statements: Specifies whether the property lies within various hazardous areas like flood zones, earthquake fault zones, and fire hazard levels.
- Transferor and agent certifications: Requires signatures and dates from the seller and their agent, affirming the accuracy of the information provided.
- Buyer acknowledgment: Confirms that the prospective buyer has read and understood the document.
Common use cases
This form should be used during the sale or transfer of real estate to ensure that buyers are fully informed about any natural hazards that may affect the property. It is particularly important in areas known for their susceptibility to natural disasters, as it helps prevent future disputes or liabilities arising from undisclosed hazards.
Who should use this form
Use this form if you are:
- A seller of a property located in a hazard-prone area.
- A real estate agent representing a seller.
- A prospective buyer wanting to understand any risks associated with a property.
Steps to complete this form
- Identify the property by entering the full street address, city, state, and zip code.
- Check the appropriate boxes to indicate whether the property lies within specified hazardous areas.
- Gather signatures and dates from both the transferor and their agent, ensuring all information is accurate as of the date signed.
- Include the name and signature of the transferee, confirming they have read and understood the disclosures.
Is notarization required?
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
Common mistakes to avoid
- Failing to disclose all known natural hazards accurately.
- Not obtaining signatures from all required parties.
- Leaving sections blank, especially regarding hazardous areas.
Benefits of completing this form online
- Convenient access to downloadable templates any time, anywhere.
- Easy customization to meet specific state requirements.
- Reliable forms developed by licensed attorneys to ensure compliance with legal standards.
Form popularity
FAQ
Natural hazards are naturally occurring physical phenomena caused either by rapid or slow onset events which can be geophysical (earthquakes, landslides, tsunamis and volcanic activity), hydrological (avalanches and floods), climatological (extreme temperatures, drought and wildfires), meteorological (cyclones and
The natural hazard disclosure report (NHD) is a California-specific report that home sellers must obtain for their buyers in order to sell a home in a natural hazard zone. This is required by state law in California for sellers to be in compliance with the 1998 Natural Hazard Disclosure Act.
The Natural Hazard Disclosure Statement (NHD) handed to a prospective buyer does not disclose: environmental hazards and physical deficiencies in the soil or property improvements.
Under California law, sellers in a real estate transaction must provide an NHD report to buyers before they sell a property. The NHD report shows whether a property lies within any of 6 common hazard zones present in the state.
What is a Natural Hazard Disclosure Report?To complete the form agents or sellers purchase a natural hazard disclosure report. It determines if a property is within a designated hazard area. These areas may include hazards such as an earthquake fault, a seismic hazard zone, seasonal flooding, or wildfires.
The seller is the one that usually pays for that as part of their disclosure packet. It costs $99 and it takes about 48 hours to get it. Asking your agent to assist with the NHD report is the smart move because some sellers are exempt from needing an NHD.
The seller and their agent are allowed to seek out a 'third party' (disclosure company, licensed engineer, land surveyor, geologist, or expert in natural hazard discovery) to prepare this report for them.
Natural Hazard Disclosure (NHD) Statement Sellers and agents of any real property must disclose to a prospective buyer if the property for sale is in certain types of natural hazard zones. For sales of certain properties, this disclosure must be made on a statutory form known as the Natural Hazard Disclosure Statement.
