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NJ’s Condominium Act and Planned Real Estate Development Full Disclosure Act

By A. Christopher Florio on August 24, 2005
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In what may be the first appeal of its kind, Stark & Stark’s Community Association group was able to secure the New Jersey Appellate Court’s reversal of a trial court’s refusal to order a common interest community developer to provide a very detailed affidavit, in accordance with New Jersey’s Condominium Act (PDF), N.J.S.A. 46:8B-12.1d (the “Condominium Act”), and New Jersey’s Planned Real Estate Development Full Disclosure Act, N.J.S.A 45:22A-21 et seq. (“PREDFDA”).
In this case, the condominium’s developer provided the plans, etc. it used to develop the project, but refused to provide an affidavit, as required by the Condominium Act, with a specific listing of each plan, by sheet number, content and last revision date. The trial court refused to order the developer to provide the affidavit. On appeal, Stark & Stark was able to convince the Appellate Court that the Condominium Act required the detailed information in the affidavit. The Appellate Court ordered the trial court to reconsider its earlier position, with additional facts, etc. from the condominium client.
With no reported cases in New Jersey interpreting the Condominium Act or PREDFDA in this respect, this case is important in helping condominiums protect their rights during and following a developer’s creation and development of a project.

Photo of A. Christopher Florio A. Christopher Florio

A. Christopher Florio is a Shareholder and Chair of the Community Associations Group. Mr. Florio has substantial experience in the negotiation of loan transactions, collections, workouts, and real estate law, including foreclosures.

Read more about A. Christopher FlorioEmail
  • Posted in:
    Real Estate & Construction
  • Blog:
    New Jersey Law Blog
  • Organization:
    Stark & Stark
  • Article: View Original Source

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