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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d. During the period provided for negotiations and for consideration by the association's
board of directors or trustees under subsection c. of this section the landowner shall not conclude
any agreement for sale of the private residential leasehold community land to any other party, but
may negotiate with any other party as to terms and conditions of such an agreement, contingent
upon the failure or refusal of the homeowners to exercise their prior right of purchase under this
act.
L.1991,c.483,s.3; amended 1995,c.365,s.3.

46:8C-13. Rights not applicable to certain sales, etc.

4. The provisions of sections 2 and 3 of this act shall not apply to:

a. Any sale or transfer of the property of a private residential leasehold community
which is not made in contemplation of changing that property to a use or uses other than as a
private residential leasehold community.

b. Any sale or transfer to a person who would be included within the table of descent
and distribution if the landowner were to die intestate.

c. Any transfer by gift, devise, or operation of law.

d. Any transfer by a corporation to an affiliate. As used herein, "affiliate" means (1)
any shareholder exercising control, or control through attribution as defined under section 318 of
the Internal Revenue Code, of the transferring corporation; (2) any corporation or entity owned
or controlled, directly or indirectly, by the transferring corporation; or (3) any other corporation
or entity owned or controlled, directly or indirectly, by any shareholder of the transferring
corporation. For the purposes of this subsection, control shall mean control as defined in section
304 of the Internal Revenue Code.