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  • NJ A3646
  • Revises time period at which unit owners assume control of homeowners' associations.
Introduced
(4/14/2016)
In Committee
(4/14/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill would revise the statutes governing the control of a homeowners association by the developer of a condominium, or other planned unit development, to limit the amount of time that a developer may control a homeowners'' association. Under current law, once 75% of the units in a condominium or planned unit development are sold by the developer, the homeowners' association is governed by unit owners, and not the developer. However, in many cases, a developer will cease construction of additional units of housing in order to maintain control of the homeowners' association. The provisions of this bill are intended to address this issue. The bill would amend section 2 of P.L.1979, c.157 (C.46:8B-12.1), which supplements the "Condominium Act," P.L.1969, c.257 (C.46:8B-1 et seq.), to clarify that the control by the owners shall occur 60 days after the conveyance of 75 percent of the lots, parcels, units or interests within a single structure, or two years after substantial completion of a single condominium structure, whichever occurs first. The bill would also amend the "Planned Real Estate Development Full Disclosure Act," P.L.1993, c.30 (C.45:22A-43 et seq.), to clarify that the control by the owners shall occur 60 days after the conveyance of 75 percent of the lots, parcels, units, or interests within a single structure, or two years after substantial completion of a single condominium structure, whichever occurs first.
Not specified
Introduced, Referred to Assembly Housing and Community Development Committee  (on 4/14/2016)
 
 
Date Chamber Action Description
4/14/2016 A Introduced, Referred to Assembly Housing and Community Development Committee
Date Motion Yea Nay Other
None specified