This bill mandates that sellers of real property in New Jersey must disclose any knowledge they have regarding the presence of dams on the property within the property condition disclosure statement. Specifically, sellers are required to indicate whether a dam is located on the property and provide details such as the dam's hazard classification and the results of its most recent inspection if applicable. The Division of Consumer Affairs, in collaboration with the Department of Environmental Protection and other relevant agencies, will enhance the disclosure statement with specific questions about the dam, requiring sellers to clarify their answers if they indicate the presence of a dam.

Additionally, the bill stipulates that the Division of Consumer Affairs must inform potential buyers about where they can find further information regarding dam ownership responsibilities, removal, and hazard classifications. This information will be accessible through the Bureau of Dam Safety's website, which will be maintained by the Department of Environmental Protection and linked to the Department of Community Affairs' website. The bill is set to take effect immediately, applying to real property sales and exchanges occurring 90 days after the necessary regulations are established.