New Jersey Statutes 2A:18-61.34. Informing prospective purchaser of act; contract or agreement for sale; clause informing of application of act and acknowledgment by purchaser
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Terms Used In New Jersey Statutes 2A:18-61.34
- Contract: A legal written agreement that becomes binding when signed.
Any public offering statement for a conversion as required by “The Planned Real Estate Development Full Disclosure Act,” P.L.1977, c. 419 (C. 45:22A-21 et seq.), shall clearly inform the prospective purchaser of the provisions of this amendatory and supplementary act, including, but not limited to, the provisions concerning eviction, rent increases and leases. Any contract or agreement for sale of a converted unit shall contain a clause in 10-point bold type or larger that the contract is subject to the terms of this amendatory and supplementary act concerning eviction and rent increases and an acknowledgement that the purchaser has been informed of these terms.
L.1981, c. 226, s. 15, eff. July 27, 1981.