46:8B-31 - Legislative findings and declarations - New Jersey Statutes

46:8B-31.  Legislative findings and declarations
    The Legislature finds and declares that many leases involving use of parking, recreational or other common facilities or areas by residents of condominiums were entered into by parties wholly representative of the interests of a condominium developer at a time when the condominium unit owners  not only did not control the administration of their condominium but also had  little or no voice in such administration.  Such leases often contain numerous  obligations on the part of either or both a condominium association and  condominium unit owners with relatively few obligations on the part of the  lessor.  Such leases may or may not be unconscionable in any given case.   Nevertheless, the Legislature finds that certain onerous obligations and  circumstances warrant the establishment of a rebuttable presumption of  unconscionability of certain leases, as specified in this act.

    The Legislature also finds and declares that many contracts for sale of condominium units, master deeds and association bylaws contain provisions affording the developer or the association a right of first refusal to purchase  in the event of resale, gift or devise of condominium units by the purchaser,  provisions which are in the financial interest of the developer or the  association and are designed to limit the freedom of the purchaser to resell  the property as he sees fit.  The Legislature finds that the relative balance  between the consideration given the financial interests of the developer or the  association and the limitations placed upon the property rights of the  purchaser contained in such provisions is such as to warrant the establishment  of a rebuttable presumption of unconscionability with respect to those master  deeds and bylaws, and amendments thereof, adopted prior to the effective date  of this amendatory and supplementary act, and to warrant the prohibition of  such provisions in contracts for the sale of condominium units executed, and in  master deeds and bylaws or amendments of master deeds or bylaws adopted, on or  after that date.

     L.1979, c. 297, s. 1, eff. Jan. 17, 1980.  Amended by L.1980, c. 103, s. 1, eff. Sept. 11, 1980.