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Current as of January 01, 2024 | Updated by Findlaw Staff
a. A seller's property condition disclosure statement or contract, or a rider or addendum to a contract, for the sale of a single-family home with solar panels installed in any location on the home or property that is part of the contract shall include the name and contact information of the business that installed the solar panels purchased by the owner selling the single-family home, as well as the name and contact information of the business that owns the solar panels or is involved in any type of power purchase agreement or lease, if those entities are different.
b. (1) If solar panels installed on a single-family home or its property are leased or subject to a power purchase agreement, a seller's property condition disclosure statement or a contract, or a rider or addendum to a contract, for the sale of the home shall contain clear and precise language regarding if the owner selling the single-family home is transferring the lease of the panels or the rights and obligations under the power purchase agreement to a new residence or to the buyer of the single-family home contracted for sale.
(2) If a lease of, or power purchase agreement related to, the solar panels is transferred to the buyer of the single-family home, the name and contact information of the business that installed the solar panels, as well as the name and contact information of the business that owns the solar panels or is involved in any type of power purchase agreement, warranty, or lease, if those entities are different, shall be included in the seller's property condition disclosure statement or contract for sale, or a rider or addendum to the contract for sale, which shall include a copy of contractual documents, if any, that will become obligations of the new owner, including obligations to make any payments, however styled, relevant warranties, guarantees, or agreements to allocate any financial incentives, including, but not limited to, net metering arrangements or renewable energy certificates, that survive the transfer.
c. A licensee of the New Jersey Real Estate Commission shall not be liable for information that is required to be disclosed by a seller pursuant to this section and was not provided to the licensee.
Cite this article: FindLaw.com - New Jersey Statutes Title 46. Property 46 § 3C-13 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-46-property/nj-st-sect-46-3c-13/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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