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Posts tagged "diminution in property value"

The Second Department Overturns a Jury Award of Stigma Damages in Oil Spill Case

In a recent oil spill case under the Navigation Law, an intermediate state appeals court, the Appellate Division of the State Supreme Court, Second Department overturned a $225,000 jury award of "stigma" damages (plus $61,600 fees award) to a private homeowner for devaluation of his property values - not for clean-up costs - due to contamination that leaked onto this Nassau County property from the neighboring property. Fusco v. State Farm Fire & Cas. Co., 57 A.D.3d 939 (2d Dep't 2008).

Term Definition: Environmental Damages

Environmental Damages: This definition is a convenient place to collect all the possible liabilities and damages arising from the presence of hazardous materials on the property in violation of, or requiring remediation under, any Environmental Requirements. It can then be used in the indemnity and cost sharing provisions. 

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