NJ S3403

Sellers of real property in New Jersey must disclose on the property condition disclosure statement whether a dam is located on the property and any actual knowledge about it before a purchaser becomes contractually obligated.

The disclosure statement must include specific questions about dam hazard classification, most recent inspection results if inspections are required, and any legal obligations associated with the dam that would transfer to the purchaser.

The Division of Consumer Affairs, working with the Department of Environmental Protection and Department of Community Affairs, must update the property condition disclosure statement to include a "Disclosure of Dam Ownership" section.

The Department of Environmental Protection must maintain a website with current information about dam ownership responsibilities, removal, and hazard classifications, which must be linked on the Department of Community Affairs website.

The requirements take effect 90 days after implementing regulations are promulgated.