46:8B-27. Effect of deed of revocation
107 words·~1 min read·
/nj/title-46/chapter-8b/46-8b-27A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon the recording of such deed of revocation, the unit owners as of the date of recording of such deed shall become tenants-in-common of the property unless otherwise provided in the master deed or deed of revocation, each such unit owner shall thereafter be the owner of an undivided interest in the entire property equal to the percentage of his undivided interest in the common elements before the recording of such deed of revocation, and each lien on an individual unit shall become a lien on the individual undivided interest of the unit owner in the entire property.
L.1969, c. 257, s. 27, eff. Jan. 7, 1970.