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In a recent article appearing in the New Jersey Law Journal, we address the growing obligation for purchasers of residential real estate to conduct reasonable environmental investigations prior to closing on a new home.
Our attorneys frequently assist homeowners, real estate professionals and trusts that invest in residential and commercial property (REITs) with concerns that arise from environmental impacts, such as those from underground storage tanks containing heating oil or historic contamination from old manufacturing operations. A question presently before the residential real estate industry is whether it will adopt a standard for environmental due diligence.