2A:18-61.34 - Informing prospective purchaser of act; contract or agreement for sale; clause informing of application of act and acknowledgment by purchaser - 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
    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.