N.J.S.A. 45:22A-47.1 — Developer relinquishing, unit owners accept association control, deliverance of items, certain, applicable.

45:22A-47.1 Developer relinquishing, unit owners accept association control, deliverance of items, certain, applicable. 10. Within 60 days after the conveyance of 75 percent of the lots, parcels, units, or interests, the developer shall relinquish control of the association, and the unit owners shall accept control, as required by section 5 of P.L.1993, c.30 (C.45:22A-47). At that time, the developer shall also deliver to the association all property of the unit owners and of the association held or controlled by the developer, including, but not limited to, the following items, if applicable, as to each lot, parcel, unit, or interest operated by the association: a. A photocopy of the recorded master deed or declaration and all amendments thereto, certified by affidavit of the developer, or an officer or agent of the developer, as being a complete copy of the actual master deed. b. A certified copy of the association's articles of incorporation, or if not incorporated, then copies of the documents creating the association. c. A copy of the bylaws and all amendments thereto, certified by affidavit of the developer, or an officer or agent of the developer, as being a complete copy of the bylaws. d. A preventative maintenance document or manual created by the developer pursuant to section 9 of P.L.2023, c.214 (C.45:22A-43.1) which sets forth a schedule for monitoring on a periodic basis the structural integrity of the buildings' primary load bearing system. e. The minute books, including all minutes, and other books and records of the association, if any. f. Any house rules and regulations which have been promulgated. g. Resignations of officers and members of the governing board or other form of administration who are required to resign because the developer is required to relinquish control of the association. h. An accounting for all association funds, including capital accounts and contributions as of the date of the election of a majority of the executive board members. i. Association funds or control thereof. j. All tangible personal property that is property of the association, represented by the developer to be part of the common elements or ostensibly part of the common elements, and an inventory of that property. k. A copy of the plans and specifications utilized in the construction or remodeling of improvements and the supplying of equipment to the planned real estate development, including plans setting forth all field changes impacting any component of the primary load bearing system and in the construction and installation of all mechanical components serving the improvements and the site, with a certificate in affidavit form of the developer, his agent, or an architect or engineer authorized to practice in this State that such plans and specifications represent, to the best of their knowledge and belief, the actual plans and specifications utilized in the construction and improvement of the condominium property and for the construction and installation of the mechanical components serving the improvements. l. Insurance policies. m. Copies of any certificates of occupancy which may have been issued for the planned real estate development property. n. Any other permits issued by governmental bodies applicable to the planned real estate development property in force or issued within one year prior to the date the unit owners other than the developer take control of the association. o. All written warranties of the contractor, subcontractors, suppliers, and manufacturers, if any, that are still effective. p. A roster of unit owners and their addresses and telephone numbers, if known, as shown on the developer's records. q. Leases of the common elements and other leases to which the association is a party. r. Employment contracts, management contracts, maintenance contracts, contracts for the supply of equipment or materials, and service contracts in which the association is one of the contracting parties and maintenance contracts and service contracts in which the association or the unit owners have an obligation or responsibility, directly or indirectly, to pay some or all of the fee or charge of the person or persons performing the service. s. All other contracts to which the association is a party. L.2023, c.214, s.10.

This is the verbatim text of N.J.S.A. 45:22A-47.1, 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.