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Flood Rules and Detached Structure Exemptions

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Question: 
Do the new flood rules with respect to detached structure exemptions apply to the personal purpose detached structures for a loan on a dairy that has a residential structure? This is a commercial purpose loan which has both commercial purpose and personal purpose detached structures.
Answer: 

The purpose of the loan is not a factor. The purpose of the structure is what matters. You need to evaluate the specific purpose of each detached structure. If it's personal use, it can be exempted.

You state the detached structure is used for personal purposes and that there is a separate residential structure. Sounds like it meets the exemption requirements.

First published on 02/14/2016

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