Click for next page ( 31

The National Academies | 500 Fifth St. N.W. | Washington, D.C. 20001
Copyright © National Academy of Sciences. All rights reserved.
Terms of Use and Privacy Statement

Below are the first 10 and last 10 pages of uncorrected machine-read text (when available) of this chapter, followed by the top 30 algorithmically extracted key phrases from the chapter as a whole.
Intended to provide our own search engines and external engines with highly rich, chapter-representative searchable text on the opening pages of each chapter. Because it is UNCORRECTED material, please consider the following text as a useful but insufficient proxy for the authoritative book pages.

Do not use for reproduction, copying, pasting, or reading; exclusively for search engines.

OCR for page 30
30 tions, community groups, local newspapers, and blog- taking of an owner's property. However, based on cur- gers in areas with property within the boundaries of a rent United States Supreme Court decisions, although noise exposure map, airport influence area, or an the law continues to evolve, it does not appear that an AICUZ, or, if those designations are not applicable, airport disclosure act would come within any of the property that is within 2 mi (or other distance) of the categories of possible regulatory takings. Furthermore, airport and its traffic pattern as a way of promoting an airport disclosure law is not a restriction on the local familiarity with the airport disclosure act and its use of property, nor does it have any effect on the requirements. In addition to providing information level of airport noise affecting a property's value. and documents on a Web site, a descriptive brochure Whatever noise impact there is remains the same re- with a copy of the law, the form of the airport disclo- gardless of whether a seller is required to disclose the sure statement, and the addenda for a real estate con- presence of an airport. tract and deed would be a helpful take-home package The disclosure act provisions contained in Section VI for prospective buyers and sellers, as well as others who of this report are based in part on provisions appearing need to be aware of the airport disclosure requirements. in many of the current disclosure laws. However, sig- nificant provisions included in the TAP to the effect CONCLUSION that a disclosure statement must be included in the parties' real estate contract; that the contract must in- Although many state legislatures have adopted resi- clude an anti-merger clause so that it is clear that dential property disclosure laws, only a few states re- the contract and disclosure statement survive the quire the disclosure of an airport or of the potential delivery of the deed; and that the disclosure statement impact of airport noise or other effects on nearby prop- be recorded with the deed or that the deed must in- erty. The general disclosure laws applicable to resi- clude the prescribed airport disclosure statement and dential property have not been construed to require the notification are not present in existing airport real disclosure of an airport. However, several states have property disclosure acts. The intent of suggesting that specific disclosure laws requiring sellers to disclose these provisions be included is to make the disclosure when residential property offered for sale is affected by statement binding not only on a present buyer and a public or military airport. Thus, in a few states dis- seller but also on future buyers and grantees of the closure may be required regarding property that is property. within the boundaries of an airport noise exposure Finally, for successful implementation of an airport map or a designated airport influence area or that is disclosure act, airports and airport authorities would situated in a military AICUZ, terms that are used in need to engage in community outreach to familiarize the Typical Airport Fair Disclosure Act developed for buyers and sellers, as well as others involved in this report. residential real estate transactions, with the Act and There could be some concern whether the enactment its disclosure requirements and procedures. of an airport disclosure act would be only an exercise of a state's police power or could amount to a regulatory