What Realtors Need to Know

Posted on August 29th, 2016

What are the requirements for water well disclosure as real property? House Bill 1221, affecting all transfers taking place January 1, 2016 or later, requires sellers of residential real estate to disclose whether any part of a property is in a groundwater conservation district (GCD) or subsidence district. It officially incorporates groundwater as an important component of real property, but the law expressly states that it does not apply “unless the seller has actual knowledge on the date of the notice that the real property is located” in a GCD, and does not “create any duty for any person to investigate to determine if the residential real property is located” in a GCD. So if you simply don’t know, you’re not required to find out.¹ If property you own is in a GCD, you have an opportunity --and some would say responsibility-- to be informed and involved in its rulemaking and operations. Groundwater districts exist for the protection of shared groundwater, to ensure l...Read More