New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 26 - PLANNED REAL ESTATE DEVELOPMENT FULL DISCLOSURE ACT REGULATIONS
Subchapter 10 - NONBINDING RESERVATION AGREEMENTS
Section 5:26-10.2 - Application

Universal Citation: NJ Admin Code 5:26-10.2

Current through Register Vol. 56, No. 18, September 16, 2024

(a) Prior to accepting any nonbinding reservation agreements, the developer shall submit an application to the Agency for registration that contains the following information:

1. The name and address of the developer;

2. The location and description of the lands to be developed;

3. The number and types of lots, parcels, units or interests to be contained in the planned real estate development or retirement community as well as a description of the common elements and facilities;

4. The selling price at which each lot, parcel, unit or interest will be offered, together with a general description of the lot, parcel, unit or interest offered at that price and the estimated monthly assessment;

5. The name and address of the person or firm holding the deposits and the name and location of the banking or similar institution wherein the deposits will be deposited;

6. A statement that no lot, parcel, unit or interest will be sold and that no binding agreement will be offered or accepted thereon until the planned real estate development or retirement community is registered with the Agency according to the provisions of this chapter;

7. A copy of the most recent financial statement of the developer, certified to be true and accurate by an independent public accountant;

8. A copy of all advertising material;

9. A copy of the proposed reservation agreement form;

10. Any other material deemed necessary by the Agency in furtherance of the provisions of this chapter.

(b) The application shall be accompanied by a filing fee in the amount of $ 250.00.

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