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