TRENTON, NJ — The Murphy Administration has introduced new measures to protect New Jersey residents from the increasing flood risks due to climate change. Attorney General Matthew J. Platkin, alongside officials from the Department of Environmental Protection and Department of Community Affairs, announced the implementation of enhanced tools for prospective homebuyers and renters.
These tools include updated property disclosure forms that provide information on a property’s known flood history and potential flood risks. Additionally, a new internet lookup tool has been launched, allowing users to identify properties in flood hazard areas by mailing address. This initiative, part of a flood risk disclosure legislation signed by Governor Phil Murphy in June 2023, requires sellers and landlords to use these forms starting March 20, 2024.
New Jersey, with this law, becomes one of seven states to receive an “A” grade on the Natural Resources Defense Council’s Flood Risk Disclosure Law Scorecard. The legislation aims to inform homebuyers and renters about flood risks, a need identified in the state’s 2020 Climate Change Resilience Strategy.
Governor Murphy highlighted the importance of these protections in enabling residents to find safe residences. Attorney General Platkin emphasized that these are some of the strongest flood disclosure requirements in the nation, designed to help New Jerseyans protect their families and properties from hidden flood risks.
The measures also address New Jersey’s vulnerability to storms and flooding, as stated by Acting Commissioner Jacquelyn A. Suárez. Commissioner LaTourette pointed out the need for awareness among buyers and renters about flooding history and potential risks. These disclosures, previously not mandated, are now essential prior to signing sales contracts, leases, and lease renewals.
Acting Director Fais of the Division of Consumer Affairs mentioned the importance of empowering consumers to make informed decisions regarding flood-prone properties. The updated Seller’s Property Condition Disclosure Statement, created in consultation with the New Jersey Real Estate Commission, is a critical component of this initiative.