Living in California, we are all too aware of the drought that has plagued the State in recent years. What you may not be aware of is that on September 14, 2014, the Sustainable Groundwater Management Act (SGMA) was signed into law. So what does that mean for property owners in California? Our friend Nancy Kaffer from Property I.D. has provided us with the attached Disclosure Watch flyer with a good summary of the ramifications of the SGMA. Property I.D. is one of the Natural Hazard Disclosure (NHD) Companies who provide third party disclosures to satisfy the NHD requirement for real estate transactions.
You should review the entire flyer, but here are a few highlights:
- Fines and assessments against property owners
- Well registration and metering
- Pumping limitations
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