New Jersey Appeals Court Clarifies Methodology for Valuing Contaminated Property
by John M. Scagnelli on August 3, 2012
The Appellate Division in Paulsboro v. Essex Chemical Corp. recently ruled on how the value of a contaminated property must be calculated in a New Jersey eminent domain action where the property contained a landfill that had been closed with the approval of the New Jersey Department of Environmental Protection (NJDEP). The Appellate Division ruled that the property owner in that case did not have to escrow money from the condemnation award to pay for the costs of remediation.
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