A natural hazard disclosure is a document given by the seller of a real estate property to the buyer, outlining whether the property is in an area known to be prone to natural disaster, such as flooding, earthquakes, hurricanes, or tornadoes. It is designed to protect buyers from unknowingly purchasing property that might incur damages from natural disasters simply because of the property's location in a naturally hazardous area. The disclosure document is usually prepared by a third party to the transaction to prevent disclosure fraud.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Ohio Natural Hazard Disclosure Statement is a legally obligated document that provides crucial information regarding potential natural hazards present in a property's vicinity. It aims to inform potential buyers or lessees in Ohio about environmental risks associated with the property, allowing them to make informed decisions. The Ohio Natural Hazard Disclosure Statement is a mandatory requirement enforced by the Ohio Revised Code Section 5302.30. It requires the completion of a standardized form to disclose any known natural hazards related to the property being transferred. The disclosure includes a comprehensive list of potential natural hazards, ensuring buyers are well-informed about the property they are interested in. Some common natural hazards covered by the Ohio Natural Hazard Disclosure Statement include: 1. Flood Hazard: This section provides information about the property's susceptibility to flood risks, including its location within a floodplain or proximity to rivers, streams, or lakes. 2. Radon Hazard: Radon is a radioactive gas that can enter buildings through cracks in the foundation. This section discloses any known radon presence in the property and highlights potential health risks associated with prolonged exposure. 3. Earthquake Hazard: In this section, any history or potential earthquake risks specific to the property's location are disclosed, ensuring buyers have knowledge about potential seismic activities. 4. Sinkhole Hazard: Sinkholes can occur due to underground erosion or the gradual collapse of soil layers. This section identifies the presence of sinkholes in the vicinity of the property, safeguarding individuals from potential structural risks. 5. Underground and Surface Mining Hazard: If the property is located in an area with a history of mining activities, this section discloses the possibility of subsidence, ground instability, or drainage issues. 6. Landslide Hazard: This section informs buyers about potential landslide risks associated with the property due to its location on unstable slopes, erosion-prone areas, or geologically hazardous regions. It is important to note that while the Ohio Natural Hazard Disclosure Statement covers various natural hazards, it may vary slightly depending on the specific county or municipality regulations. Buyers should carefully evaluate the disclosed information and consult with professionals to make informed decisions. By providing transparent and detailed information, the Ohio Natural Hazard Disclosure Statement plays a crucial role in safeguarding the interests of buyers and ensuring they are aware of potential natural hazards associated with the property.The Ohio Natural Hazard Disclosure Statement is a legally obligated document that provides crucial information regarding potential natural hazards present in a property's vicinity. It aims to inform potential buyers or lessees in Ohio about environmental risks associated with the property, allowing them to make informed decisions. The Ohio Natural Hazard Disclosure Statement is a mandatory requirement enforced by the Ohio Revised Code Section 5302.30. It requires the completion of a standardized form to disclose any known natural hazards related to the property being transferred. The disclosure includes a comprehensive list of potential natural hazards, ensuring buyers are well-informed about the property they are interested in. Some common natural hazards covered by the Ohio Natural Hazard Disclosure Statement include: 1. Flood Hazard: This section provides information about the property's susceptibility to flood risks, including its location within a floodplain or proximity to rivers, streams, or lakes. 2. Radon Hazard: Radon is a radioactive gas that can enter buildings through cracks in the foundation. This section discloses any known radon presence in the property and highlights potential health risks associated with prolonged exposure. 3. Earthquake Hazard: In this section, any history or potential earthquake risks specific to the property's location are disclosed, ensuring buyers have knowledge about potential seismic activities. 4. Sinkhole Hazard: Sinkholes can occur due to underground erosion or the gradual collapse of soil layers. This section identifies the presence of sinkholes in the vicinity of the property, safeguarding individuals from potential structural risks. 5. Underground and Surface Mining Hazard: If the property is located in an area with a history of mining activities, this section discloses the possibility of subsidence, ground instability, or drainage issues. 6. Landslide Hazard: This section informs buyers about potential landslide risks associated with the property due to its location on unstable slopes, erosion-prone areas, or geologically hazardous regions. It is important to note that while the Ohio Natural Hazard Disclosure Statement covers various natural hazards, it may vary slightly depending on the specific county or municipality regulations. Buyers should carefully evaluate the disclosed information and consult with professionals to make informed decisions. By providing transparent and detailed information, the Ohio Natural Hazard Disclosure Statement plays a crucial role in safeguarding the interests of buyers and ensuring they are aware of potential natural hazards associated with the property.
