Everything You Should Know About Proposed Assembly Bill No 1921
Owners of contaminated residential properties often have great difficulty selling them due to real or perceived health threats associated with said contamination. However, if Assembly Bill No 1921 is enacted into law, owners of residential property contaminated with volatile organic compounds (VOCs) may be able to demand that the New Jersey Department of Environmental Protection (DEP) offer to purchase the property.
Levels of VOCs in the indoor air of the residence exceed applicable screening levels and require remedial action to protect the health of the residents;
Levels of VOCs in the soil at the property exceed applicable soil remediation standards; and
The owner had no notice that the property was contaminated with VOCs at the time of purchase.
Components of Assembly Bill No 1921
The bill would require homeowners to request purchase by the DEP within one year after the date of enactment of the bill or within one year after the date of discovery of the contamination – whichever is later. The DEP would then be required to make its purchase offer within 60 days. In addition, the DEP would be required to purchase the property at fair market value without allowing for any diminution in value caused by the contamination.
Once purchased, the structures at the property would be demolished and the property would be remediated for use as open space. Funding for the proposed actions would be made available from the New Jersey Spill Compensation Fund. The Assembly passed the proposed bill by a vote of 60-13 in June, and it is currently pending before the Senate Budget and Appropriations Committee. The DEP opposes the bill, citing the costs of purchasing contaminated properties. We will be closely tracking Assembly Bill No 1921 as it proceeds through the Legislature and we will post updates as they become available.
Are you a residential property owner? Are you unsure how Assembly Bill No 1921 could affect you? Please contact me, Dan McKillop, with any questions regarding the proposed bill.
What Business Owners Get Wrong Before Meeting a Litigation Attorney
What should you expect when meeting a litigation attorney about a business dispute? You should expect to describe the dispute in your own words, hand over the most important documents, flag any deadlines or immediate threats, and leave with a clearer picture of the problem, what information is still needed, and the likely next steps. […]
Arbitration vs. Litigation vs. Mediation: What New Jersey Businesses Should Know Before Signing a Contract
Arbitration resolves disputes privately before an arbitrator whose decision is usually final, while litigation resolves them in court with full rights of appeal. Whether a business ends up in arbitration or litigation is often decided when it signs the contract, long before any dispute arises. Key Takeaways When facing a contract dispute, carefully consider your […]
Can You Own Part of a New Jersey Business Without a Written Agreement?
Can you own part of a business in New Jersey without a written agreement? Yes, it is possible. Under New Jersey’s Uniform Partnership Act, a partnership can arise when two or more people carry on a business as co-owners for profit, whether or not they ever intended to form one. Ownership doesn’t necessarily depend on […]
Crisis-Proofing Your New Jersey Business: Building a Crisis Response Plan Before You Need One
For New Jersey businesses, crisis preparedness should be viewed as a legal and operational function, not simply an emergency-management exercise. A well-designed crisis response plan can help preserve evidence, protect confidential communications, meet reporting obligations, limit unnecessary exposure, and prevent an already difficult situation from becoming a larger legal problem. Key Takeaways A serious crisis […]
Monmouth County's Next Development Wave: What Developers and Investors Need to Know
Monmouth County is entering a significant new phase of development. For those looking to acquire property or undertake a new project, understanding the market opportunity is only the beginning. The more important question is whether a particular property can actually be developed as contemplated and what approvals, agreements, and other conditions will be required to […]
Are Your Conversations with AI Shielded from Discovery? Courts Are Split
Whether a client’s prompts to a generative AI tool and the documents it produces are protected from disclosure depends on the case type, who claims protection, and whether counsel was involved. In United States v. Heppner, a New York federal judge ruled that a criminal defendant’s communications with an AI platform were protected by neither […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
