Statutes, codes, and regulations
New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRSChapter 26 - PLANNED REAL ESTATE DEVELOPMENT FULL DISCLOSURE ACT REGULATIONS
Subchapter 2 - REGISTRATION
Section 5:26-2.3 - Requests for exemption

N.J. Admin. Code § 5:26-2.3

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Current through Register Vol. 56, No. 24, December 18, 2024
Section 5:26-2.3 - Requests for exemption
(a) Any person who believes that a planned real estate development or retirement community may be exempt from the provisions of the Act, or who is contemplating establishment of a planned real estate development or retirement community that he or she believes may be exempt, may apply to the Director for a Letter of Exemption.
1. Such application shall be in writing and shall list the reasons why such planned real estate development or retirement community, or proposed planned real estate development or proposed retirement community, may be exempt from the Act.
2. An application for exemption pursuant to N.J.A.C. 5:26-2.2(a) shall be accompanied by a fee of $ 157.00.
i. No fee shall be charged for any development consisting entirely of units legally restricted to occupancy by households of low or moderated income.
(b) In the event the Director shall determine that such planned real estate development or proposed retirement community is exempt from the Act, he shall issue a Letter of Exemption setting forth the facts upon which his determination is based.
(c) In the event the Director shall determine that such planned real estate development or retirement community or proposed planned real estate development or proposed retirement community is not exempt from the provisions of the Act, he shall deny the request for exemption setting forth the facts upon which his determination is based and shall notify the applicant of his findings.
(d) Any person who is aggrieved by the determination by the Director pursuant to (a) and (b) above is entitled to a hearing on such determination provided said hearing is requested, in writing, no later than 15 days from the date of such determination.
(e) The Director shall issue his determination as to whether a planned real estate development or retirement community is exempt or not within 30 days of the receipt of the request.

N.J. Admin. Code § 5:26-2.3

Amended by 46 N.J.R. 2024(a), effective 10/6/2014.