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New Form – Solar Panels Addendum

New Form – Solar Panels Addendum

1
1 month agoopen0

I’m involved with a transaction involving solar panels. These are “owned” not “leased” panels, so thought it would be easy to just transfer the warranty to the new buyers at closing. This is not the case. Because the panels generate power, they are regulated like a utility. The new buyer needs to apply to get the ownership of the panels in their name (and pay an application fee). The current Sale Agreement doesn’t address Solar at all; sellers are not obligated to initiate (or even cooperate with) the transfer of ownership.

I would like to propose a new addendum (akin to the Private Well addendum or Septic/Onsite Sewage System addendum) to spell out the duties and obligations of all parties including the transfer of ownership, warranty, and addressing any existing lease on the panels. Because of the complexity of the issue and potential legal issues, I believe it would best be addressed with an Addendum instead of just a paragraph (like paragraph 20 – smart home features).

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