N.J. DCA Landlord/Tenant Information Series — Mobile Home Park Leasehold Communities Law

Citation
N.J. DCA Landlord/Tenant Information Series — Mobile Home Park Leasehold Communities Law
Jurisdiction
New Jersey (state)
Source
Official source
Original Source
https://www.nj.gov/dca/codes/publications/pdf_lti/mobile_hm_pk.pdf ↗

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Full Text

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c. If the landowner thereafter elects to offer the land at the same price or at a lower
price than specified in his notice to the directors or trustees of the association pursuant to
subsection a. of this section, the homeowners, by and through the association, shall have an
additional 10 days after receipt of that offer to meet the price and terms of conditions of the
landowner by executing a contract; provided, however, that if more than three months have
elapsed since the receipt by the homeowners' association of the previous offer to sell the land
under this subsection, the association shall have 30 days after receipt of the subsequent offer to
meet the price and terms of conditions of the landowner by executing a contract.
L.1991,c.483,s.2; amended 1995,c.365,s.2.

46:8C-12. Right of homeowners on offer to buy

3. a. If a private residential leasehold community landowner receives a bona fide offer to
purchase the land that he intends to consider or make a counter-offer to, he shall notify the
directors or trustees of the homeowners' association within 10 business days of receiving the
offer, if such an association has been formed in accordance with the provisions of sections 6
through 8 of this act, that he has received the offer. If a homeowners' association has not been
formed, the landowner shall, within 10 business days, notify individual homeowners as required
under section 6 of this act. The landowner shall not conclude any agreement to sell the land until
after the 30-day period therein specified has elapsed.