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Fair Disclosure and Airport Impact Statements in Real Estate Transfers (2012)

Chapter: II. DISCLOSURE OF AIRPORTS UNDER EXISTING REAL PROPERTY DISCLOSURE LAWS

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Suggested Citation:"II. DISCLOSURE OF AIRPORTS UNDER EXISTING REAL PROPERTY DISCLOSURE LAWS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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Suggested Citation:"II. DISCLOSURE OF AIRPORTS UNDER EXISTING REAL PROPERTY DISCLOSURE LAWS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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Suggested Citation:"II. DISCLOSURE OF AIRPORTS UNDER EXISTING REAL PROPERTY DISCLOSURE LAWS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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Suggested Citation:"II. DISCLOSURE OF AIRPORTS UNDER EXISTING REAL PROPERTY DISCLOSURE LAWS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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Suggested Citation:"II. DISCLOSURE OF AIRPORTS UNDER EXISTING REAL PROPERTY DISCLOSURE LAWS." National Academies of Sciences, Engineering, and Medicine. 2012. Fair Disclosure and Airport Impact Statements in Real Estate Transfers. Washington, DC: The National Academies Press. doi: 10.17226/14604.
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3 FAIR DISCLOSURE AND AIRPORT IMPACT STATEMENTS IN REAL ESTATE TRANSFERS By Larry W. Thomas, Attorney at Law, Washington, DC I. INTRODUCTION The purpose of this digest is to discuss whether and under what circumstances a seller of residential real property or local authorities must give notice to a pro- spective home buyer that the property is affected by its proximity to an airport. As is more fully discussed in Appendix A, in the ab- sence of a residential real property disclosure act, the doctrine of caveat emptor (“Let the buyer beware”) usu- ally applies. Under the caveat emptor doctrine, it is a buyer’s responsibility to perform the due diligence re- garding a property he or she intends to purchase. In those states without disclosure acts a seller’s obligation or duty to disclose defects or conditions affecting prop- erty is likely to be limited by the caveat emptor doc- trine. Also, under the doctrine a seller generally is not obligated to reveal all that he or she knows about the property. Except in the circumstances noted in Appen- dix A, the rule prevents a buyer from suing a seller to rescind a contract or for damages. The recent trend in the states is the enactment of residential real property disclosure laws. For purposes of this digest, the disclosure laws are of two types: 1) general residential real property disclosure laws, and 2) residential real property laws applicable to the disclo- sure of the proximity of airports and airport noise af- fecting property offered for sale. Approximately two-thirds of the states have enacted general residential real property disclosure laws. The purpose of such laws is to provide prospective home buyers with sufficient information to enable them to make informed decisions about the purchase of residen- tial property. See Appendices A and B for a more com- prehensive analysis of the provisions of the acts. Sig- nificantly, no circumstances were found in which a disclosure statute lacking an airport disclosure provi- sion has been used to require notification to a prospec- tive buyer of airport proximity or noise. Some states specifically require the disclosure of an airport or the effect of aviation operations to a prospec- tive purchaser of residential property. The digest dis- cusses the features of such laws requiring the disclo- sure of airport noise, flight paths, and other effects of airports to prospective purchasers of property in the vicinity of an airport. Appendix C contains a matrix of these laws. Under most residential real property disclo- sure laws, the requirement to disclose is generally im- posed on the seller or his or her agent. Section II of the digest examines states with air- port disclosure laws and discusses when and in what manner a seller must disclose that residential prop- erty being offered for sale is within the boundaries of an airport noise exposure map, an airport influence area, or is situated in a military Air Installation Compatible Use Zone (AICUZ). Section III of the digest discusses whether a state’s enactment of an airport disclosure act is an exercise of the state’s police power or amounts to a regulatory taking of property that requires the pay- ment of just compensation to property owners af- fected by a disclosure act’s requirements. Section IV discusses whether an airport disclosure statement would have an effect on a buyer’s claim for noise damages after the buyer purchased property knowing that it was subject to airport noise. Section V addresses the effect of noise studies and contour maps on claims for airport noise damages. Section VI is a typical fair airport disclosure act developed for the digest that includes comments on proposed provisions and issues relevant to the enact- ment and use of an airport disclosure statute. Appendix A is a general discussion of real estate fair disclosure laws. Appendix B is a matrix of state resi- dential real property statutory disclosure provisions. Appendix C is a matrix of state airport disclosure provi- sions. Appendix D is the Airport Disclosure Statement relating to the Tucson International Airport. Appendix E is the Real Estate Transfer Document Statement for the San Francisco International Airport. Appendix F is a version of the Typical Airport Disclosure Act devel- oped for the digest that is contained in Section VI but without the notes and comments. II. DISCLOSURE OF AIRPORTS UNDER EXISTING REAL PROPERTY DISCLOSURE LAWS A. Introduction Some form of residential and real property disclosure laws specifically pertaining to airports have been en- acted in at least 13 states, including A l a s k a , Ari- zona, California, Hawaii, Indiana, M a r y l a n d , Michigan, Minnesota, New Jersey, Nevada, North Caro- lina, Tennessee, and Virginia. The disclosure laws take one or more of four approaches. Arizona, California, Hawaii, New Jersey, and North Carolina require that a seller disclose that a property is within an airport influ- ence area, an airport noise contour map, or an airport safety zone. Indiana, Michigan, and Minnesota require

4 that a seller disclose whether a property is within the proximity or within a certain distance of an airport. Alaska, Nevada, and Tennessee require a seller to dis- close whether a property is affected by airport noise or by noise generally. At least three states, Arizona, Mary- land, and Virginia require the disclosure of property situated within the vicinity of military airports and operations. Other than with respect to designating an airport influence area or airport safety zone or filing an airport noise contour map in the local land records, air- port authorities typically have no responsibility for air- port disclosure statements. B. Disclosure of Property Within an Airport Influence Area, an Airport Noise Contour Map, or an Airport Safety Zone B1. Arizona Arizona has several laws requiring the disclosure of airports. First, the State or a political subdivision that has established or operates an airport may designate “an airport influence area.”1 An airport influence area is property in the vicinity of an airport that is currently exposed to aircraft noise and overflight and that either has a day-night average sound level of sixty- five decibels or higher or is within such geographical dis- tance from an existing runway that exposes the area to aircraft noise and overflights as determined by the air- port owner or operator.2 The state or political subdivision must “record” an airport influence area in the county having territory within the area.3 An interesting feature of the statute is that the county record of an airport influence area is deemed to be sufficient notice to owners or potential purchasers of property in the airport influence area that a property is subject to aircraft overflights and noise.4 The statute does not state whether claims relating to airport noise or operations are barred by reason of an owner or potential purchaser having such notice, nor were any cases located construing the provision. Second, Arizona requires that the state real estate department shall have and make available to the pub- lic on request a map showing the exterior boundaries of each territory in the vicinity of a public airport.5 A pub- lic airport must record the map in each county having territory in the vicinity of the airport.6 The recorded map must be “sufficient to notify owners and poten- tial purchasers of property that the property is located in or outside of a territory in the vicinity of a public airport.”7 Once more, neither is there an indication 1 ARIZ. REV. STAT. ANN. § 28-8485 (2010). 2 Id. § 28-8485(A) (2010). 3 Id. § 28-8485(B) (2010). 4 Id. 5 Id. § 28-8486(A) (2010). 6 Id. § 28-8486(B) (2010). 7 Id. whether the notice to an owner or a prospective buyer bars any claims in connection with airport noise, nor were there any cases located that have construed the provision. The phrase “territory in the vicinity of a public air- port” means property “that is within the traffic pattern airspace as defined by the federal aviation admini- stration [FAA]” and “includes property that experi- ences a day-night average sound level” [DNL] of ei- ther sixty decibels or higher or sixty-five decibels or higher depending on a county’s population.8 For in- stance, Scottsdale, Arizona, has complied with § 28- 8486 by recording a map of the Scottsdale Airport Traf- fic Pattern Airspace “known as the 60 DNL Noise Con- tour.”9 The city states that it has exceeded this mini- mum standard and has mapped the noise contours out to 55 decibels (dB) DNL.10 Because 65 dB DNL contours may not reflect com- pletely the effect of “single event” airport noise on nearby property, Part IV.B.4(b) of the Typical Airport Fair Disclosure Act Provisions developed for the Report provides that a disclosure statement must disclose flight paths including actual radar flight paths or tracks used by landing and departing aircraft in areas beyond 65 dB DNL.11 (See Appendix D) The reason is that property owners may have complaints regarding single event noise generated by aircraft using the air- port that are outside 65 dB DNL contours.12 8 Id. § 28-8486(C)(2)(a) and (b) (2010). 9 http://www.scottsdaleaz.gov/airport/noisesub_disclosure, last accessed on July 25, 2011. The Web site advises that the recorded noise disclosure maps for other Arizona airports may be viewed at the Public Airport Maps section of the Arizona Department of Real Estate’s Web site and that home buyers and renters should educate themselves in advance about issues that affect property for sale or rent. 10 http://www.scottsdaleaz.gov/airport/noisesub_disclosure, last accessed on July 25, 2011. The W e b site informs visi- tors that “[t]he historic 1985 and 1991 noise contour maps as well as the projected 2005 noise contour maps may be viewed on our Noise Compatibility Planning Page.” 11 See Mary Ellen Eagan, Noise Programs in Areas Outside DNL 65 dB, AAAE Airport Noise and Mitigation Symposium (Oct. 5, 2009), available at http://www.hmmh.com/ cmsdocuments/Beyond_DNL65.pdf, last accessed on July 20, 2011. The 65 dB DNL is the federally defined threshold level at which aircraft noise begins to interfere with everyday activi- ties, such as talking on the phone or watching TV. Bradley International Airport, 14 C.F.R. Part 150 Study, Noise Expo- sure Map and Noise Compatibility Program, Executive Sum- mary (Oct. 27, 2003), at ES-3, available at http://www.bradleyairport.com/community/noise_docs/BDL%20 Exec%20Summary.pdf, last accessed on July 20, 2011. 12 See Discussion of Methodologies of Measuring Noise Impact (Oct. 22, 2000) (noting that “[s]ome people challenge the use of DNL to assess aviation noise because it is a measure of exposure from cumulative events over time rather than a measure of exposure from a single noise event”), available at http://www.dekalbzoning.com/PDK_ FAAnoisediscussion.html, last accessed on July 20, 2011.

5 B2. California California’s disclosure law prescribes a form enti- tled “Notice of Airport in Vicinity” when a property is located within an airport influence area.13 The notice must state: This property is presently located in the vicinity of an airport, within what is known as an airport influence area. For that reason, the property may be subject to some of the annoyances or inconveniences associated with proximity to airport operations (for example: noise, vibration, or odors). Individual sensitivities to those annoyances can vary from person to person. You may wish to consider what airport annoyances, if any, are as- sociated with the property before you complete your pur- chase and determine whether they are acceptable to you.14 An airport influence area is defined as “the area in which current or future airport-related noise, overflight, safety, or airspace protection factors may significantly affect land uses or necessitate restriction on those uses as determined by an airport land use commission.”15 If a Natural Hazard Disclosure Statement is required, a seller must determine if the property is located in an airport influence area16 and provide notice.17 The air- port influence area may be 12- to 45- sq mi depending on the “airport runway’s size, orientation, and classifi- cation.”18 When the notice is provided in compliance with the statute, the notice relieves the seller “or any listing or selling agent of any further duty….”19 A transferor or the transferor’s agent is not “liable for any error, inaccuracy, or omission of any information de- livered…if the error, inaccuracy, or omission was not within the personal knowledge of the transferor” or the transferor’s agent.20 In California, cities and counties may establish addi- tional or different disclosure requirements but at a minimum the form must include the information in the foregoing Notice of Airport in Vicinity.21 However, in the absence of an airport influence area map, the dis- closure of an airport within 2 mi will satisfy any city or 13 CAL. CIV. CODE § 1353(a)(1) (West 2010). See California disclosure statement available at http://www.dre.ca.gov/pub_ disclosures.html, last accessed on July 20, 2011. 14 Id. See also id. §§ 1102.6a, subds. (a) and (d)(1)-(2) (West 2010). See also App. 5. 15 Id. § 1353(a)(2) (West 2010). See also id. § 1103.4(c) (West 2010); CAL. BUS. & PROF. CODE § 11010(b)(12)(B) (West 2010). 16 CAL. CIV. CODE §§ 1102.6 and 1103.4(c) (West 2010). 17 Id. § 1103.4(c)(1) (West 2010). 18 Matt Lilligren, When in Doubt, Point It Out: Chapter 66 Attempts to Clarify California’s Residential Real Estate Obliga- tions, 36 MCGEORGE L. REV. 941, 942–43 (2005). 19 CAL. CIV. CODE § 1102.4(b) (2010). 20 Id. § 1102.4(a) (2010). 21 Id. §§ 1102.6a, 1103.4, and 1353 (West 2010); CAL. BUS. & PROF. CODE § 11010 (West 2010). county requirements applicable to transfers of real property.22 B3. Hawaii In Hawaii, disclosure of an airport is required when residential property is “[w]ithin the boundaries of the noise exposure area shown on maps prepared by the [DOT] in accordance with [FAR] Part 150-Airport Noise Compatibility Planning…for any public airport.”23 Sec- ond, disclosure is required when residential real prop- erty lies within the boundaries of an “Air Installation Compatible Use Zone of any Air Force, Army, Navy, or Marine Corps airport as officially designated by mili- tary authorities…subject to the availability of maps that designate” the area.24 AICUZs are discussed in Section V.C. of this digest. B4. New Jersey New Jersey’s Planned Real Estate Development Full Disclosure Act (PREDFDA) and its Air Safety and Zoning Act (Air Safety Act) impose disclosure require- ments regarding off-site conditions. First, as a result of administrative regulations, PREDFDA requires a seller when issuing a public offering statement to disclose, among other conditions, a property’s proximity to airports or flight paths.25 Second, the Air Safety Act requires a seller to notify a prospective buyer prior to executing a contract for the sale of residential property that the property is located in an airport safety zone.26 As observed in Nobrega v. Edison Glen Associates,27 New Jersey’s New Residential Real Estate Off-Site Conditions Act (Disclosure Act)28 does not affect the disclosure requirements in PREDFDA or the Air Safety Act.29 However, the court held that based on legislative intent the Disclosure Act “precludes plaintiffs from su- ing sellers and developers of real estate under the Con- sumer Fraud Act for failure to disclose off-site condi- tions, provided that the sellers and developers satisfy their disclosure obligations under Section 8 and 9” of the Disclosure Act.30 Pursuant to the Dis- closure Act, “[t]he furnishing of notice ‘shall be avail- able to the seller as a defense in any action that the seller failed to disclose any conditions which are not part of the project.’”31 22 CAL. CIV. CODE § 1102.6a (West 2010). 23 HAW. REV. STAT. § 508D-15(a)(2) (2010). 24 Id. § 508D-15(a)(3) (2010). 25 Id., 167 N.J. at 535, 772 A.2d at 377 (citing N.J.S.A. § 45:22A-28(a); N.J.A.C. § 5:26-4.2(a)(17). 26 Nobrega v. Edison Glen Assocs., 167 N.J. 520, 534–35, 772 A.2d 368, 377 (2001) (citing N.J.S.A. § 6:1-85.2). 27 167 N.J. 520, 772 A.2d 368, 377 (2001). 28 N.J.S.A. §§ 46:3C-1 to C-12. 29 Nobrega, 167 N.J. at 532, 772 A.2d at 375 (citing N.J.S.A. § 46:3C-10(d)). 30 Id. at 534, 772 A.2d at 376 (citing N.J.S.A. § 46:3C-8-9). 31 Id. at 531, 772 A.2d at 374 (quoting N.J.S.A. § 46:3C- 10(b)).

6 B.5. North Carolina In North Carolina, the North Carolina Real Estate Commission is charged with developing and requiring the use of a standard residential real property disclo- sure statement.32 A disclosure must include “notice from any governmental agency affecting this real prop- erty….”33 Although the section is not specific regarding the disclosure of an airport or airport noise, the Ra- leigh-Durham Airport Authority (RDU) in North Caro- lina has taken the position that “[n]oise disclosure is necessary for resale of homes located within the noise- impacted area designated by the RDU Composite Noise Contour Map….”34 Thus, as a government agency the RDU has “notified property owners within the noise- impacted area by mailing an Aircraft Noise Notification to them.”35 The RDU also states that recent homebuyers should have been informed about noise disclosure by the previous homeowner.36 C. Disclosure of Property in the Proximity or Within a Certain Distance of an Airport C1. Indiana In Indiana, an owner must disclose “that an airport is located within a geographical distance from the prop- erty as determined by the Indiana Real Estate Com- mission. The Commission may consider the differences between an airport serving commercial airlines and an airport that does not serve commercial airlines in determining the distance to be disclosed.”37 C2. Michigan Michigan requires a seller to disclose that residential property is in the “proximity” of an airport, as well as to disclose other enumerated off-site conditions.38 C3. Minnesota Minnesota’s approach is somewhat different. A seller has no duty to disclose information regarding air- port zoning regulations if the seller, in a timely manner, provides a written notice that a copy of the airport zoning regulations as adopted can be reviewed or ob- 32 N.C. GEN. STAT. § 47E-4(b). 33 Id. § 47E-4(b)(5). 34 RDU Aircraft Noise Program, available at http://www.rduaircraftnoise.com/home/tips.html, last accessed on July 7, 2011. 35 Id. 36 Id. 37 IND. CODE ANN. § 32-21-5-7(4) (Burns 2010). See Indiana Real Estate Commission, Laws and Regulations (2008), available at http://lms.recp.org/pdfs/IREC.2008_ EDITION.pdf. 38 MICH. COMP. LAWS § 565.957, § 7 (2010) (requiring that a seller disclose a property’s proximity to a landfill, airport, or shooting range). tained at the office of the county recorder where the zoned area is located.39 D. Disclosure of Property Affected by Airport Noise D.1. Alaska In Alaska, a residential real estate disclosure form must inform a buyer that it is a buyer’s responsibility to determine whether there are “vibrations, noise [or] the operation of machinery including aircraft” in the vicin- ity of a property that is the subject of a buyer’s potential real estate transaction.40 D.2. Nevada Chapter 645 of the Nevada code is applicable to real estate brokers and salespersons. Section 645.252 re- quires that a real estate broker or salesperson disclose to each party to a real estate transaction “[a]ny mate- rial and relevant facts, data or information” either known or that should have been known by the exercise of reasonable care to a broker or salesperson affecting a property that is the subject of a real estate transac- tion.41 As noted by the Clark County (Nevada) Planning Commission, “neither local nor state law currently ex- plicitly requires that homebuyers be informed regard- ing the effect of aircraft noise on a property.”42 Never- theless, Clark County “[h]istorically has required noise disclosure to inform homebuyers of the fact that they should anticipate airport related noise for many pro- jects that are significantly impacted by high levels of aircraft noise on a case-by-case basis.”43 The Commis- sion recommends that with respect to proposed devel- opments, including those near McCarran International Airport, “that approval be subject to the real- tor/developer…informing prospective buyers of the ex- isting and forecasted noise exposure for the area.”44 D.3. Tennessee In Tennessee, a residential real property disclosure form must alert a buyer to “neighborhood noise prob- lems,” but the required disclosure is not specific regard- ing the presence of airports or aircraft noise.45 E. Disclosure of Military Airports A few of the current disclosure acts apply to prop- erty near a military airport. 39 MINN. STAT. § 513.56, Subd. 3(c) (2010). 40 ALASKA STAT. § 34.70.050. 41 NEV. REV. STAT. § 645.252 (2010). 42 Clark County Airport Environs Report 5 (2007), available at http://www.clarkcountynv.gov/Depts/comprehensive_ planning/advanced_planning/Documents/AirportEnvirons Report.pdf , last accessed on July 7, 2011. 43 Id. 44 Id. 45 TENN. CODE ANN. § 66-5-210.

7 E1. Arizona In Arizona a seller must provide a buyer with a writ- ten disclosure prior to transfer of title to property that the property is in the vicinity of a military airport or ancillary military facility “as delineated on a map prepared by the state land department.”46 Further- more, Arizona requires a property owner subject to the act to “notify potential purchasers of the property and any potential lessees or renters that the property is located in a high noise and accident potential zone.”47 E2. Maryland Maryland requires sellers to disclose to buyers known military operations affecting real property, in- cluding flight operations and the testing of munitions, which may subject the property to high noise levels.48 E3. Virginia In Virginia, a seller in a locality in which there is a military air installation must disclose to a buyer “whether the subject parcel is located in a noise zone or accident potential zone, or both, if so designated on the official zoning map by the locality in which the prop- erty is located on a form provided by the Real Estate Board.”49 Virginia, however, limits an owner’s liability for failure to make a disclosure of noise for properties lo- cated outside of the noise contours defined as incom- patible with residential use by the FAA. First, a pur- chaser in a designated noise zone having a DNL of less than 65 dB has no right to terminate a real estate purchase contract because the property owner failed “to timely provide any disclosure required by [Va. Code] § 55-519.1.”50 Second, a purchaser of residential property in a designated noise zone having a DNL of less than 65 dB has no right to claim damages pursuant to the foregoing section.51 F. Effect of Airport Disclosure on a Buyer’s Obligations As seen from the above airport disclosure statutes, the onus is on a seller or a seller’s agent to disclose an airport or airport noise. Some of the residential real property disclosure laws, which with a few exceptions are not specific to airports, analyzed in Appendix A pro- vide that a seller’s disclosure statement does not relieve a buyer of a duty to inspect for defects or problems but any inspection generally is limited to the property itself and does not include off-site conditions such as an air- port. In the absence of any real property disclosure law a buyer in most states is subject to the caveat emptor 46 ARIZ. REV. STAT. § 28-8484(E) (2010). 47 Id. § 28-8481(H) (2010). Section 28-8461(9) defines the term “high noise or accident potential zone.” 48 MD. CODE ANN., REAL PROP. § 14-117(k)(2) (2010). 49 VA. CODE ANN. § 55-519.1 (Michie 2010). 50 Id. § 55-520(c) (Michie 2010). 51 Id. § 55-524(B)(2) (Michie 2010). rule, which obligates the buyer, before purchasing, to investigate a property and its surroundings to discover any pertinent defects or adverse conditions. The rule does not apply when the seller has an obligation not to conceal or makes a fraudulent misrepresentation of material fact.52 Further discussion of the caveat emptor rule may be found in Appendix A. The airport disclosure laws do not address but seem to imply that a buyer has the responsibility to follow up on a seller’s airport disclosure; for example, in Arizona where a map recorded in the county land records of an airport influence area is deemed to be sufficient notice to potential purchasers that property in the area is sub- ject to aircraft overflights and noise. Likewise, in Cali- fornia it appears that there is an implicit obligation on the part of a buyer to follow up because a seller’s com- pliance with the airport disclosure law relieves the seller or the seller’s agent of any further obligation. In Minnesota, a buyer has an implied duty to make any investigation that the buyer deems to be appropriate because a seller only has to give notice that a copy of airport zoning regulations may be reviewed in the county where the property offered for sale is located. Assuming that a buyer has an implied duty to inves- tigate the effect of an airport on property that a buyer is considering purchasing, none of the airport disclosure statutes or the general residential real property disclo- sure laws discussed in Appendix A indicate how a buyer is to conduct an inspection. At a minimum, some of the airport disclosure laws suggest that a buyer should re- view the appropriate land records where there may be a record of a designated airport influence area, airport noise contour map, or AICUZ. Arguably an appraisal would reveal the presence of an airport because of an airport’s impact on the value of the property. However, appraisals are often conducted after a buyer has con- tracted to purchase, but prior to settlement. One exam- ple could be when a real estate contract has a financing contingency. Although appraisals are beyond the scope of this re- port, it may be noted that the Department of Housing and Urban Development’s Handbook entitled Valuation 52 Cunningham v. Miller, 150 Vt. 263, 266, 552 A.2d 1203, 1205 (1988) (stating that “‘[h]aphazard falsehood and inten- tional passing off belief for knowledge are of the same quality as conscious misstatement of facts and furnish the element of knowledge required to make the false representation fraudu- lent’”) (citation omitted); Wall v. Swilley, 562 So. 2d 1252, 1256 (Miss. 1990) (stating that a purchaser, the victim of a seller’s material misrepresentation, may recover the difference be- tween the real value of the property and the represented value of the property); Norton v. Poplos, 443 A.2d 1, 4 (Del. 1982) (purchaser entitled to a remand for a determination of whether rescission of a contract should be ordered as a result of innocent misrepresentations made by the seller’s agent). 52 Norton, 443 A.2d at 5 (holding that one who delegates the power to act to an agent is responsible for what is done pursuant to that authority and that a seller may not assert innocence or lack of knowledge of the agent’s actions as a de- fense).

Next: III. AN AIRPORT DISCLOSURE ACT: AN EXERCISE OF THE STATE'S POLICE POWER OR A REGULATORY TAKING? »
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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.

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