AB 430

Under current law, with certain exceptions, owners selling residential real

property or vacant land must give prospective buyers a form, known as a real estate

condition report for residential real property and as the vacant land disclosure report

for vacant land, on which the owner discloses certain conditions of, and other

information about, the real property of which the owner is aware. This bill requires

an owner to disclose on the applicable report whether the owner has notice or

knowledge that a dam is located on the property or that ownership of a dam that is

collectively owned by a homeowner association, lake district, or other group runs

with the property even though the dam is not located on the property. This bill also

updates the real estate condition report and the vacant land disclosure report to

indicate that the regulation of underground storage tanks was transferred to the

Department of Agriculture, Trade and Consumer Protection.