Sec. 504. Require disclosure to prospective buyers that property is in the Coastal Barrier Resources System
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/bill/116/hr/8632/ih/section-504A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5 of the Coastal Barrier Resources Act ( 16 U.S.C. 3504 ) is amended by adding at the end the following: No person shall sell any interest in real property located in the System unless the person has disclosed to the buyer that the property is in the System and subject to the limitations under this section. Not later than 30 days after the date of sale of any interest in real property located in the System, the seller shall notify the Secretary using the online system required by paragraph
(3)of such sale and shall certify to the Secretary that such seller complied with the requirements of paragraph (1). Not later than 30 days after the date of enactment of this Act, the Secretary shall establish and maintain an online reporting system to facilitate notifications to the Secretary required by paragraph (2). Any person who violates this subsection shall be subject to a civil penalty of not more than $10,000. .
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Sec. 504
Require disclosure to prospective buyers that property is in the Coastal Barrier Resources System
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