We have previously looked at Solar Panels from a title insurance perspective and how they can impact the sale of your home. I came across the below article in the New York Times on how solar panels can benefit those who live in apartment buildings.
To me, the implications are fascinating. First, from a financial point of view, will the apartment owners benefit financially, and, second, from the title agent's point of view, how to create an agreement that doesn't tie up the title to the real estate.More New York homeowners have tapped into solar power in recent years, as regulations have eased and prices have dropped. But apartment dwellers, for the most part, have been kept in the dark.Starting this summer, though, renters and homeowners who live in buildings that don’t, or can’t, have solar panels on the roof can join something known as a community solar group. Simply put, these groups allow someone in a Manhattan apartment to lower their electricity bill by connecting to solar panels that happen to sit on the rooftop of, say, a Bronx warehouse.“I think community solar gives equal access to solar power for those of us in the city,” said Taka Juba, an owner of a Manhattan condominium apartment, who joined the city’s first community solar group run by IPPsolar, a Manhattan-based solar firm. “Anything to offset your bill is great, but there’s a social and environmental impact too.”
You can read the full Times article here.
For your next title order or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Vested Land Services LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-808-6130 - Fax 973-227-0645
E-mail sflatow@vested.com
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