Real Estate Market in Wesley Chapel and Tampa Bay Florida

There’s a new disclosure included in the property insurance law(CS/SB 1486) that took effect June 1. Sellers of real property -- commercial and residential -- for which an insurance claim for sinkholedamage was made must disclose to buyers (1) that a sinkhole claim was paid and (2) if the full amount of the proceeds were used to repair thesinkhole damage. The law doesn’t specify the type of disclosure (written or verbal) or when to make the disclosure. Questions? Contact FAR’sLegal Hotline at 407-438-1409.