SB 1366: Real property disclosure requirements: domestic water storage tank assistance.

Existing law requires that specified disclosures be made upon any transfer by sale, exchange, real property sales contract, lease with an option to purchase, any other option to purchase, or ground lease coupled with improvements, of any single-family residential property.

Existing law authorizes the State Water Resources Control Board to provide grants to eligible applicants to be used to provide interim relief, as specified, to households in which a private water well has gone dry, or has been destroyed, due to drought, wildfire, or other natural disaster.

This bill would require a seller of any real property who received domestic water storage tank assistance or is aware the real property received such assistance and the real property currently still has the domestic water storage tank to deliver a disclosure statement to the prospective buyer. The bill would prescribe certain information to be included in the disclosure, including that the property has a domestic water storage tank provided by a county, community water system, local public agency, or nonprofit organization, as specified, and that the domestic water storage tank might not convey with the real property.