Gibbons Law Alert

Gibbons Law Alert

Tagged: Property Damage

Landmark Flood Disclosure Bill Now Law in New Jersey, Applies to Both Commercial and Residential Property

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Posted in Development/Redevelopment / Environmental and Green Issues / Transactional Real Estate and Leasing

On August 9, 2023

On June 30, 2023, the New Jersey General Assembly unanimously passed Bill S3110/A4783, which will require sellers of real property and landlords to make specific disclosures regarding a commercial or residential property’s flood risk. The bill was amended to concur with the recommendations of Governor Murphy’s May 8, 2023, Conditional Veto Statement and was enacted into law upon passage. New Jersey was previously one of less than half of the states in the country that did not require any flood disclosures for real estate transactions. Landlord & Seller Flood Disclosure Requirements Specifically, Senate Bill No. 3110 requires landlords and sellers of commercial or residential real property to disclose to prospective tenants and buyers if a property is located in an area designated by the Federal Emergency Management Agency (FEMA) as a Special Flood Hazard Area (known as the 100-year flood plain) or Moderate Risk Flood Hazard Area (known as the 500-year flood plain), and if the property has suffered flood damage in the past to the owner’s knowledge. Sellers are also required to disclose additional facts related to the property’s flood insurance and flood damage history. Additionally, landlords are required to notify tenants of the possible availability of flood insurance via the National Flood Insurance Program. The New Jersey Department of Community Affairs (NJDCA) is...

“Removal vs. Remedial Action? – That is the Question” Second Circuit Answers “Removal” and Vacates District Court’s Grant of Dismissal on CERCLA Statute of Limitations Grounds in State of New York v. Next Millenium Realty, LLC

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Posted in Environmental and Green Issues

On October 28, 2013

Environmental attorneys have long wrestled with the issue of whether particular clean-up activities under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) fall under the statute of limitations for remedial actions, considered to be permanent responsive action, or for removals, considered to be interim remedial measures to address immediate threats to public health. In a governmental cost recovery action, guessing wrong can deprive a federal or state governmental entity of its ability to recover its clean up costs from Potentially Responsible Parties. In State of New York v. Next Millenium Realty, LLC, the Second Circuit vacated the District Court’s determination, holding that once an activity is instituted as a removal, it remains a removal until completion, even if it is incorporated into the final permanent remedy.

NJDEP Posts FAQs on Post-Sandy Flood Elevation Standards

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Posted in Environmental and Green Issues

On February 11, 2013

The New Jersey Department of Environmental Protection (“NJDEP”) recently issued its answers to frequently asked questions (FAQs) regarding the emergency amendments to New Jersey’s Flood Hazard Area Control Act Rules. The emergency regulations were signed into law by New Jersey Governor Christie on January 24, 2013, in the wake of Hurricane Sandy. The new regulations adopt the Federal Emergency Management Agency’s (“FEMA”) updated Advisory Base Flood Elevation (“ABFEs”) maps as the rebuilding standard for the entire state. The rules set minimum elevation standards for the reconstruction of houses and buildings in areas that are in danger of flooding. Because the rules are complex and so many officials and the public are affected, NJDEP issued the FAQs explaining the benefits of the amendments, who is covered, and tips for getting started.

Rebuilding New Jersey After Sandy – Legislation Would Require Standby Generators for a Variety of Businesses and Facilities

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Posted in Development/Redevelopment

On December 17, 2012

This article is the third in a series that deals with the legal implications of Superstorm Sandy, which devastated many areas of New Jersey on October 29, 2012. The resulting widespread power outages crippled many businesses which serve the public by providing essential services. To prevent that situation from recurring, a number of bills have been introduced in the New Jersey legislature which would require a variety of private businesses and facilities to install standby generators.

Rebuilding New Jersey After Sandy – Potential Property Tax Relief for Owners of Damaged Properties

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Posted in Development/Redevelopment

On November 26, 2012

This article is the second in a series that deals with the legal implications of Superstorm Sandy, which devastated many areas of New Jersey on October 29, 2012. Owners of property with a structure that has suffered substantial damage or that has been destroyed should be aware that they may qualify for a lower property tax assessment, which may result in lower property taxes next year.

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