New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 80 - NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY
Subchapter 5 - TRANSFER OF OWNERSHIP INTERESTS
Section 5:80-5.5 - Scope of review
Universal Citation: NJ Admin Code 5:80-5.5
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The scope of the Agency's review of transfer depends on the nature of the interest to be transferred. A transfer of 90 percent or more of the ownership interest requires full review. Full review is also required in the following instances.
1. Transfer of title from the
seller to any other party;
2. Any
conveyance or attempted conveyance by land contract;
3. Transfer of 90 percent or more of the
interest in the partnership/owner within a five year period;
4. A change in general partners or management
control of the owner.
(b) In other cases, the Agency in its discretion may conduct a modified review.
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