Fair Disclosure and Airport Impact Statements in Real Estate Transfers

National Academies of Sciences, Engineering, and Medicine

doi:10.17226/14604

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Fair Disclosure and Airport Impact Statements in Real Estate Transfers

(2012)

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TRB’s Airport Cooperative Research Program (ACRP) Legal Research Digest 12: Fair Disclosure and Airport Impact Statements in Real Estate Transfers examines the effect of a state or locality having no real property disclosure laws, explores existing general state real property disclosure laws, and discusses existing state real property disclosure laws specifically requiring the disclosure of airports in close proximity to the property being offered for sale.

The report also highlights annotated typical fair real property disclosure law provisions including provisions considered important for effective fair disclosure of airport-related impacts.

Contributor(s): National Academies of Sciences, Engineering, and Medicine; Transportation Research Board; Airport Cooperative Research Program

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Suggested Citation

National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. https://doi.org/10.17226/14604.

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Publication Info

70 pages | 8.5 x 11 | DOI: https://doi.org/10.17226/14604

Chapters		skim
CONTENTS	1-1
II. DISCLOSURE OF AIRPORTS UNDER EXISTING REAL PROPERTY DISCLOSURE LAWS	2-6
III. AN AIRPORT DISCLOSURE ACT: AN EXERCISE OF THE STATE'S POLICE POWER OR A REGULATORY TAKING?	7-13
IV. EFFECT OF AIRPORT DISCLOSURE STATEMENT ON A LATER CLAIM FOR NOISE DAMAGES	14-16
V. EFFECT OF NOISE STUDIES AND CONTOUR MAPS ON CLAIMS FOR AIRPORT NOISE DAMAGES	17-18
VI. TYPICAL AIRPORT FAIR DISCLOSURE ACT PROVISIONS	19-28
CONCLUSION	29-29
APPENDIX A: REAL ESTATE FAIR DISCLOSURE LAW	30-41
APPENDIX B: MATRIX OF RESIDENTIAL REAL PROPERTY STATUTORY DISCLOSURE PROVISIONS	42-53
APPENDIX C: MATRIX OF STATE AIRPORT DISCLOSURE PROVISIONS	54-54
APPENDIX D: SAMPLE AIRPORT DISCLOSURE STATEMENT	55-55
APPENDIX E: SAMPLE REAL ESTATE TRANSFER DISCLOSURE STATEMENT	56-58
APPENDIX F: TYPICAL AIRPORT FAIR DISCLOSURE ACT PROVISIONS	59-67
ACKNOWLEDGMENTS	68-68

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