Environmental
Iowa's Groundwater Hazard Statement is required to be completed by the seller when:
ASelling any real property in Iowa✓ Correct
BThe property is located within 1 mile of a Superfund site
COnly when there is a known well or underground storage tank on the property
DOnly for agricultural properties with more than 50 acres
Explanation
Iowa law requires sellers of real property to complete a Groundwater Hazard Statement disclosing information about wells, underground storage tanks, solid waste disposal sites, hazardous waste, and burial sites on the property. It is required for all real property transfers in Iowa.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
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.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
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