ARTICLE
20 March 2017

Elastic Damages In Residential Property Damage Claims

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Troutman Pepper Locke LLP

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Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Learn more at troutman.com.
Parties that are potentially responsible for residential environmental contamination in North Carolina face broad exposure and unpredictable outcomes.
United States Environment

Parties that are potentially responsible for residential environmental contamination in North Carolina face broad exposure and unpredictable outcomes. A recent appellate decision limiting damages commercial property owners can recover for environmental contamination to the diminution in value of the property greatly expanded the potential scope of liability for residential environmental claims. The decision recognized a personal use exception that could require responsible parties to pay well in excess of diminished value to remediate or repair residential property. When property claims are coupled with claims for non-economic injuries for diagnosed and undiagnosed conditions, the potential exposure for responsible parties in residential contamination cases can be considerable and vary greatly.  A full summary of the decision is available here.

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