45:15-16.30. Conditions for disposition of subdivided lands
108 words·~1 min read·
/nj/title-45/chapter-15/45-15-16-30·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless the subdivided lands or the transaction is exempt pursuant to section 6 of this act:
a. No person may offer, dispose or participate in this State in the disposition of subdivided lands or of any interest in subdivided lands unless in accordance with the provisions of this act.
b. No person may dispose or participate in the disposition of any interest in subdivided lands unless a current public offering statement, disclosing fully all information required in section 12 of this act, is delivered to the purchaser and the purchaser is afforded a reasonable opportunity to examine the public offering statement prior to the disposition.
L.1989, c.239, s.4.