New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 5 - REAL ESTATE COMMISSION › Subchapter 9 - RULES INTERPRETING AND IMPLEMENTING THE REAL ESTATE SALES FULL DISCLOSURE ACT, N.J.S.A. 45:15-16.27 ET SEQ › Section 11:5-9.3 - Forms of documents

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Rules concerning documents with respect to the registration of subdivisions with the Commission and to the sale of interests in out-of-State subdivisions pursuant to the Act are as follows:
1. All statements of record submitted to the Commission shall be bound, referenced and properly indexed with the exception of those received from the Office of Interstate Land Sales Registration, U.S. Department of Housing and Urban Development.
2. With the exception of the affidavits and affirmations referenced in (a)5 below, documents submitted to the Commission may be filed on a properly bookmarked and indexed computer disc (CD ROM) or other electronic medium acceptable to the Commission. All paper documents submitted to the Commission for filing shall, wherever possible, be typewritten on one side of the paper only. One copy of each exhibit or document shall be submitted, unless the Commission requests more than one copy. All documents submitted to the Commission shall not exceed 8 1/2 x 14 inches. The Commission will make exceptions for documents which an applicant for registration cannot reasonably reduce, such as topographical maps, plat maps and surveys, if such documents can be folded to 8 1/2 x 14 inches. Where the Commission requires certified documents and the applicant cannot obtain reduced certified documents, the applicant may reduce such documents and submit therewith an affidavit verifying such document. All documents submitted pursuant to these rules shall become part of the Commission's public records.
3. An applicant may submit photographs as part of the application for registration. Photographs shall not be used in lieu of the legal description of the registered property or any other required written documents.
4. An applicant may submit verified copies of original documents.
5. An affidavit or affirmation as prescribed in the Commission's forms shall be executed for each of the following documents:
i. Statement of record, partial statement of record;
ii. Application for consolidated registration;
iii. Application for amendment to Order of Registration;
iv. Annual report of registered properties;
v. Statement of Non-conviction and partner, officer, director or principal disclosure;
vi. Consent(s) to service of process; and
vii. Broker's Affidavit and application for release.
6. A certified property report and statement of record of the Office of Interstate Land Sales Registration, Department of Housing and Urban Development, may be filed as a statement of record conforming to the requirements of the Act, provided the following documentation shall also be submitted:
i. Consent(s) to service of process;
ii. Audited financial statement(s) as provided in 11:5-6.4(a)15;
iii. A statement detailing any bonding or security agreements entered into;
iv. Broker's Affidavit and application for release;
v. A copy of each contract to be used in the sale of property in the development to New Jersey purchasers;
vi. Statement of Non-conviction and partner, officer, director or principal disclosure;
vii. A copy of the articles or certificate of incorporation;
viii. Application/affidavit of developer; and
ix. Such other additional documents or proofs that may be requested.
7. The acceptance of the certified report and statement of record of the Office of Interstate Land Sales Registration may be conditioned upon an acceptable on-site inspection by the Commission or its designee. No marketing or sales activity will be permitted in New Jersey until all the proper authorizations have been received by the applicant and broker from the Commission.
8. Any applicant who wishes to register a subdivision which has been similarly registered in this State or any other state where the requirements of that registration are substantially similar to those imposed by this subchapter, may submit a certified copy of the approved application for registration filed in such other jurisdictions. In the event the Commission finds upon review that such an application substantially conforms to the standards and requirements imposed by the Act and this subchapter, the Commission may register such property; provided, however, that prior to such registration, the Commission may require submission of such supplemental documents and information as it may deem necessary.
9. Nothing herein, or in the Act, shall be construed to require an applicant to whom an Order of Registration has previously been issued to file any additional documents or affidavits with the Commission other than notices of amendments or requests for approval of material change(s) and annual reports prior to the expiration of that Order of Registration.