N.J.S.A. 2A:62A-12 — Definitions

2A:62A-12. Definitions As used in this act: a. "Association" means the entity responsible for the administration of a common interest community in which 75% or more units have been conveyed to unit owners other than the developer pursuant to subsection a. of section 2 of P.L. 1979, c. 157 (C. 46:8B-12.1), which association may be incorporated or unincorporated. b. "Bylaws" mean the governing regulations adopted by a common interest community for the administration and management of the property. c. "Common interest community" means real estate with respect to which a person, by virtue of his ownership of a unit, is obligated to pay for real estate taxes, insurance premiums, maintenance or improvement of other real estate described in the declaration. Ownership of a unit does not include holding a leasehold interest of less than 20 years in a unit, including renewal options. Common interest communities shall include, but not be limited to, condominiums and cooperatives. d. "Declaration" means any instrument, however denominated, which creates a common interest community, including any amendment to that instrument. e. "Bodily injury" means death or bodily injury to a person. f. "Qualified common interest community" means a common interest community which is (1) residential and (2) contains at least four units. g. "Unit" means a physical part of a common interest community designated for separate ownership or occupancy. h. "Unit owner" means the person owning a unit or that person's spouse. L. 1989, c. 9, s. 1.

This is the verbatim text of N.J.S.A. 2A:62A-12, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.