New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 26 - PLANNED REAL ESTATE DEVELOPMENT FULL DISCLOSURE ACT REGULATIONS
Subchapter 1 - GENERAL PROVISIONS
Section 5:26-1.3 - Definitions
The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise:
The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise:
"Advertising" means and includes the publication or causing to be published of any information offering for disposition or for the purpose of causing or inducing any other person to purchase an interest in a planned real estate development or retirement community, including the sales contract to be used and any photographs or drawings or artist's representation of physical conditions or facilities on the property existing or to exist by means of any:
1. Newspaper or periodical;
2. Radio or television broadcast;
3. Written, printed or photographic matter;
4. Billboards or signs;
5. Display of model houses or units;
6. Material used in connection with the disposition or offer of the development by radio, television, telephone or any other electronic means; or
7. Material used by developers or their agents to induce prospective purchasers to visit the development, particularly vacation certificates which require the holders of such certificates to attend or submit to a sales presentation by the developer or his agents.
"Advertising" does not mean: Stockholder communication such as annual reports, interim financial reports, proxy materials, registration statements, securities prospectuses, applications for listing securities on stock exchanges, and the like; all communications addressed and relating to the account of any person who has previously executed a contract for the purchase of the developer's lands, except when directed to the sale of additional lands.
"Agency" means the Division of Codes and Standards of the State Department of Community Affairs.
"Association" means an association for the management of common elements and facilities, organized pursuant to Section 1 of P.L. 1993, c. 30 (N.J.S.A. 45:22A-43).
"Association member" means the owner of a unit within a planned real estate development, or a unit's tenant to the extent that the bylaws of the planned real estate development permit tenant membership in the association, and the developer to the extent that the development contains unsold lots, parcels, units, or interests pursuant to Section 1 of P.L. 1993, c. 30 (N.J.S.
A. 45:22A-43).
"Blanket Encumbrance" means a trust deed, mortgage, judgment or other lien or encumbrance including an option or contract to sell or a trust agreement affecting a development or retirement community of more than one lot, parcel, unit or interest therein, but does not include any lien or other encumbrance arising as the result of the imposition of any tax assessment by any public authority.
"Bylaws" means the governing documents adopted under this chapter for the administration and management of the property.
"Commissioner" means the Commissioner of Community Affairs.
"Common promotional plan" means any offer for the disposition of lots, parcels, interests or units of real property by a person or group of persons acting in concert, where such lots, parcels, units or interests are contiguous, or are known, designated or advertised as a common entity or by a common name.
"Condominium" means the form of ownership of real property under a master deed providing for ownership by one or more owners of units or improvements together with an undivided interest in common elements appurtenant to each such unit.
"Condominium property" means the land covered by the master deed, whether or not contiguous, and all improvements thereon, all owned either in fee simple or under lease, and all easements, rights, and appurtenances belonging thereto or intended for the benefit thereof.
"Conversion" means any change with respect to a real estate development, subdivision, apartment complex or other entity concerned with the ownership, use or management of real property which would make such entity a planned real estate development or retirement community.
"Director" means the Director, Division of Codes and Standards, Department of Community Affairs.
"Disposition" means any sale, contract, lease, assignment, or other transaction concerning a planned real estate development or retirement community.
"Division" means the Division of Codes and Standards, Department of Community Affairs.
"Executive board" means the executive board of an association, as provided for in Section 3 of P.L. 1993, c. 30 (N.J.S.A. 45:22A-45).
"Expandable project" means a project that includes, at its time of registration under the Act, a certain defined number of units and common facilities, but that the developer anticipates, as indicated in its application for registration in accordance with the Act, that the project may ultimately be made larger by amendment, to include additional units, additional common facilities, or both.
"Interest" means any and all rights to use and enjoy any incident of ownership of any part of a planned real estate development or retirement community.
"Material change" means, but is not limited to, any significant change in the size or character of the development or interest being offered or anything having a significant effect on the rights, duties or obligations of the developer or purchaser.
"Nonbinding reservation agreement" means an agreement between the developer and a prospective purchaser which may be cancelled without penalty by either party upon written notice at any time prior to the formation of a contract for the disposition of any lot, parcel, unit or interest in a planned real estate development or retirement community.
"Offer" means an inducement, solicitation, advertisement, or attempt to encourage a person to acquire a lot, parcel, unit or interest in a planned real estate development or retirement community.
"Person" shall be defined as in R.S. 1:1-2.
"Planned Real Estate Development" or "development" means any real property situated within this State, whether contiguous or not, which consists of, or will consist of, separately owned areas, irrespective of form, be it lots, parcels, units or interests, and which are offered or disposed of pursuant to a common promotional plan, and providing for common or shared elements or interests in real property. This definition shall include, but not be limited to, "planned unit development" and "planned unit residential development" as defined in the Municipal Land Use Law, P.L. 1975, c. 291 ( N.J.S.A. 40:55D-6). This definition shall not include any form of timesharing subject to the New Jersey Real Estate Timeshare Act, P.L. 2006, c. 63.
"Purchaser" or "Owner" means any person or persons who acquire a legal or equitable interest in a lot, parcel, unit or interest in a planned real estate development or retirement community and shall be deemed to include a prospective purchaser or prospective owner.
"Retirement Community" means any land which is divided or proposed to be divided into 10 or more lots, whether contiguous or not, for the purpose of sale or lease as part of a common promotional plan where such is advertised or represented as a retirement community or as a community primarily for retirees or elderly persons or where there is a minimum age limit tending to attract persons who are nearing age of retirement, whether located within this State or without.
"Umbrella or master association" means a type of association that is made up of representatives across multiple associations established for the governance, management, and oversight of the common elements and facilities of multiple developments.
"Unit" means any lot, parcel, unit, or interest in a planned real estate development that is, or is intended to be, a separately owned area thereof.
"Voting eligible tenants" means a tenant of a unit within a planned real estate development in which the bylaws of the development permit the tenant's participation in the executive board elections or the development has allowed tenant participation in executive board elections as a standard practice prior to the effective date of P.L. 2017, c. 106 (N.J.S.A. 45:22A-45.1et seq.). In either instance, the owner shall affirmatively acknowledge the right of the tenant to vote through a provision of a written lease agreement or a separate document. "Voting eligible tenants" shall not be construed to affect voting as an agent of the owner through a proxy or power of attorney.
