The GeoAssurance Property Disclosure Report is not an insurance policy. It is the product of a service designed to satisfy disclosure requirements so that sellers of residential property and their brokers may inform their buyers as to natural hazards which appear on public databases. These publicly available databases are not maintained by GeoAssurance. They are updated and maintained by agencies which make their information available to the public. GeoAssurance assembles its reports from the information that is currently available as of the date of its report and is not responsible for updates, amendments, or changes that are made available after the date of the report.
The GeoAssurance Property Disclosure Report is based solely on the property identification and location supplied by the seller and his broker. It is the responsibility of the seller and his broker to confirm that the property, which is the subject of the report, is correctly identified, located, and characterized as being residential property. It is also the responsibility of the seller and his broker to disclose to buyer and GeoAssurance (a) any incorrect or incomplete features of this report and (b) any matters which are known or should be known by seller and his broker which may not be disclosed in this report. The property search is on a single residential parcel and does not include a search of secondary parcels or easements or common areas (in the case of condominium properties).
The GeoAssurance Property Disclosure Report is provided solely to the seller and his broker and may not be relied upon by anyone other than those parties in making their statutory disclosures to their buyer. Acceptance and use of this report constitutes acceptance and agreement to be bound by the terms, limitations and conditions stated in this report. The information contained in this report may affect decisions to purchase insurance policies to cover potential damages which may arise from the natural hazards disclosed in this report.
The GeoAssurance Property Disclosure Report is subject to the terms, limitations and conditions stated in this report. In the event that the seller, or his broker, report any inaccuracies, errors, or omissions, GeoAssurance’s only obligation is to provide a corrected report. In the event of any claim tendered concerning the information in this report, GeoAssurance’s liability in any case other than gross negligence, is limited to actual damages. In no case shall GeoAssurance have any liability for speculative damages, lost profits, or any direct or indirect, incidental or consequential damages arising in any connection whatsoever with the preparation or use of this report. If any dispute arises in connection with this report, the parties agree that the jurisdiction to deciding such dispute shall be venued in Los Angeles County, California.
The disclosures contained in this report are intended to make Report recipient(s) aware of the presence of mapped hazards. If you are intending to build, you are advised to contact Local building authorities to verify the criteria they use to determine building and permitting approvals.
If you have question, or need additional information regarding these Terms and Conditions, please contact us.