This form update recognizes a new form of solar renewable energy certificates (RECs) is available from the New Jersey Board of Public Utilities. On page 7, a new question, "Lead Plumbing", has been added in accordance with the above legislation.This includes service lines, piping materials, fixtures, solder, and more. Murphy signed legislation, S-829, which requires the property condition disclosure statement to include a question concerning the presence of lead plumbing in a property being sold.
New Jersey REALTORS® Form 140 Seller Property Condition Disclosure Statement has two updates concerning solar panels and lead plumbing. New Jersey REALTORS® has also updated the Residential Lease, Section 35 by adding new (B) New Jersey Lead-Based Paint Inspection Law Acknowledgement.ĭate on the bottom of both forms is 07/2022ġ1/2021 - Updated Form: Seller Property Condition Disclosure Statement Lines 213-214 and Section 13, new (D) Rental Dwelling Inspections. New Jersey REALTORS® has however, updated the Statewide New Jersey REALTORS® Standard Form of Real Estate Sales Contract to provide notice to Buyers who are purchasing the property with tenancies or who may use the property as a rental in the future. This new law is not currently tied to time-of-sale requirements. Beginning July 22, 2022, lead paint inspection and remediation will be required for residential one- and two-family rental properties upon tenant turnover or by July 24, 2024, if there is no tenant turnover. Governor Murphy signed the Lead Remediation Requirements. 07/2022 - Revisions to Form 118: Contract of Sale & Form 125: Residential Lease
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