Bill Text: NJ A2174 | 2024-2025 | Regular Session | Introduced
Bill Title: Requires certain disclosures by sellers of single-family homes with solar panels installed.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Passed) 2024-01-09 - Withdrawn Because Approved P.L.2023, c.312. [A2174 Detail]
Download: New_Jersey-2024-A2174-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblyman WILLIAM F. MOEN, JR.
District 5 (Camden and Gloucester)
Assemblywoman ANNETTE QUIJANO
District 20 (Union)
Co-Sponsored by:
Assemblywoman Lopez
SYNOPSIS
Requires certain disclosures by sellers of single-family homes with solar panels installed.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning the disclosure of information on solar panel installation and supplementing P.L.1995, c.360 (C.25:1-10 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. 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, warrantee, 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 warrantees, 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.
2. Any owner of a single-family home who is a party to a contract for the sale of the home pursuant to section 1 of P.L. , c. (C. ) (pending before the Legislature as this bill) who misrepresents or makes false claims regarding the business that installed the solar panels purchased by the owner or leased by the owner, or who misrepresents that information in the seller's property condition disclosure statement, shall, in addition to any other penalty provided by law, be liable to the buyer for the cost of damages resulting from the misrepresentation or false claims or $1,000, whichever is greater, to be collected by the buyer in any court of competent jurisdiction, together with reasonable attorneys' fees, filing fees, and reasonable costs of suit.
3. The New Jersey Real Estate Commission in the New Jersey Department of Banking and Insurance shall, in conjunction with the Clean Energy Program in the New Jersey Board of Public Utilities, inform consumers of P.L. , c. (C. ) (pending before the Legislature as this bill) by posting, on the Internet websites of the commission and the program, information about the requirements of P.L. , c. (C. ) (pending before the Legislature as this bill) and related penalties for noncompliance.
4. This act shall take effect immediately and apply to single-family homes with solar panels installed on or after the date of enactment but shall remain inoperative until the commission posts on its Internet website the information required pursuant to section 3 of this act.
STATEMENT
This bill requires that a seller's property condition disclosure statement or contract, or rider or addendum to a contract, for sale of a single-family home with solar panels purchased by the owner installed on the home or its property is to include the name and contact information of both the business that installed the solar panels and, if different, the business that owns the solar panels or is involved in a power purchase agreement or lease. 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 contract, or rider or addendum to a contract, for the sale of the home is to contain clear and precise language regarding whether the owner selling the home is transferring the lease of the panels, or power purchase agreement-related commitments, to a new residence or to the buyer of the home contracted for sale. If a lease or power purchase agreement is transferred to the buyer of the home, the name and contact information of the business that installed the solar panels and, if different, the name and contact information of the business that owns the solar panels or is involved in a form of power purchase agreement, warrantee, or lease, are to be included in the seller's property condition disclosure statement or contract for sale, or a rider or addendum to the contract. More specifically, the bill requires the property condition disclosure statement, contract for sale, or a rider or addendum to the contract for sale, to include a copy of the contractual documents, if any, to become obligations of the new owner. A licensee of the New Jersey Real Estate Commission is not held liable under the bill for information that is required to be disclosed by a seller under the bill but was not provided to the licensee.
Misrepresentation or false claims made by an owner of a single family home, who is a party to a contract for the sale of the home, regarding the business that installed the solar panels purchased or leased by the owner, would make the owner liable to the buyer for the cost of the resulting damages or $1,000, whichever is greater, plus reasonable attorney's fees and court costs, in addition to any other penalty provided by law.
