Colorado's 'Natural Hazard Disclosure' requirements related to the Contract to Buy and Sell include disclosure of:
Why Wildfire hazard areas, flood zones, and geologic hazard areas as adverse material facts Is Correct
Answer B: Wildfire hazard areas, flood zones, and geologic hazard areas as adverse material facts
Exam Tip: Environmental
Environmental questions test knowledge of hazards like asbestos, lead-based paint, radon, and mold. Know the disclosure requirements and when a professional inspection is required. CERCLA liability is strict, joint, and several.
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Key Terms to Know
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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