SPECIAL FLOOD HAZARD AREA
A Brief Explanation
Residential Disclosure Law
Earthquake Fault Zone
Flood Hazard Area
Seismic Hazard Areas
Very High Fire Hazard Zone
About ABW Corporation
|CALIFORNIA GOVERNMENT, Section 8589.3
California law requires the seller (if acting without an agent) or the seller's
agent to disclose to a prospective transferee of real property if the property is located within a Special Flood Hazard Area ("SFHA") (any type Zone "A" or "V")
as designated by the Federal Emergency Management Agency ("FEMA) pursuant
to 42 United States Code, Section 4001. Disclosure must be made if:
- a seller (if acting without an agent) or the seller's agent has "actual knowledge" (Public Resources
Code Section 2621.9(c)(1)) that the property is located within a special flood hazard area, OR
- the local jurisdiction has compiled a list of properties (identified by parcel)
that are within a special flood hazard area and
a notice has been posted at the offices of the county recorder, county
assessor, and county planning agency that identifies the location of the parcel list.
FEMA is required by Federal law to compile Flood Insurance Rate Maps identifying
areas of potential flooding. Property located within a SFHA is subject to a one
percent (1%) or greater chance of complete or partial flooding in any
given year. FEMA defines this type of flood as the "base flood" which is more commonly known as a "100
year flood". A 100 year flood has a 26% chance of occurring during
any 30 year period.
- This disclosure only determines if any portion of this parcel is located within
an SFHA. To get a determination for insurance purposes, a certified
flood zone determination should be ordered through your lender.
- Federal law (42 United States Code 4001 et seq.) requires that lienholders of
structures determined to be within an SFHA have adequate flood insurance coverage in place from either:
- the National Flood Insurance Protection
Program (NFIP) which is administered by the Federal Insurance Administration,
- any licensed property/casualty insurance
agent or many private insurance companies that are writing flood insurance
agreements with the Federal Insurance Administration.
- In communities that participate in the NFIP, federally insured or regulated lenders
require flood insurance for mortgages and other loans secured by structures located in an SFHA.
- A parcel of property located outside an SFHA may still be subject
to severe flooding. FEMA reports that 25% to 30% of all flood insurance claims are from owners of property located
in low to moderate-risk areas located outside of an SFHA.
- Lenders may at their discretion require the purchase of flood
insurance even if a property is located outside of an SFHA.
- For ways to protect a house from flooding, refer to FEMA publication
312 entitled "Homeowner's Guide to Retrofitting", published June, 1998.
- Flood Insurance Rate Maps do not identify areas of potential flooding
resulting from dam inundation and other causes.
|For more information, please contact the Federal
Emergency Management Agency office or contact them via the world wide
web at http://www.fema.gov/.
P.O. Box 9219, Santa Rosa, California 95405
1815 Empire Industrial Court, Santa Rosa, California 95403
1 (800) 750-9961
© 1999 ABW Corporation