N.J. Stat. Ann. § 2A:18-51 et seq. § 2A:18-61.53
Public offering statements, requisites
Operative Text
14. In the case of a building or structure located in a qualified county, the public offering statement for a conversion as required by "The Planned Real Estate Development Full Disclosure Act," P.L.1977, c.419 (C.45:22A-21 et seq.), shall clearly inform the prospective purchaser of the provisions of this act regarding the protection of qualified tenants and tenants in need of comparable housing. Any contract or agreement for sale of a converted unit shall contain a clause in 10-point bold type or larger that the contract is subject to the terms of this act concerning such tenant protection and an acknowledgement that the purchaser has been informed of these terms. L.1991,c.509,s.14.
Under N.J.S.A. 2A:18-61.53 § 14, when a residential building in a qualified county undergoes conversion to condominium or cooperative ownership, the public offering statement must clearly disclose the tenant-protection provisions of the act to prospective buyers. Additionally, any sales contract for a converted unit must include a bold, 10-point-or-larger clause stating that the contract is subject to those tenant protections, along with a buyer acknowledgment that they have been informed of these terms. This rule ensures that purchasers of converted units are made aware of the rights retained by qualified tenants and tenants in need of comparable housing before a sale is finalized.
Plain English — not legal advice.
Operators and developers managing conversions in qualified New Jersey counties under N.J.S.A. 2A:18-61.53 § 14 generally ensure that their public offering statements—prepared in compliance with the Planned Real Estate Development Full Disclosure Act—contain explicit language describing the act's tenant protections. Compliant operators also include a prominently formatted clause, in bold type of at least 10 points, within every unit sales contract, and they obtain a signed acknowledgment from each purchaser confirming receipt of that information. Maintaining documentation of these disclosures and acknowledgments is a standard practice for operators seeking to demonstrate compliance with this provision.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
N.J.S.A. 2A:18-61.53 § 14 establishes that tenants living in buildings undergoing conversion in a qualified county have a right to have their protections disclosed to any prospective purchaser of their unit. If a sales contract lacks the required bold disclosure clause or buyer acknowledgment, that omission may be relevant to the enforceability of the contract or to a tenant's ability to assert rights under the act. Tenants who believe these disclosure requirements have not been followed may wish to consult a tenant-rights organization or legal aid provider familiar with New Jersey conversion law to understand what options may be available to them.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 14, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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