New Jersey § 46:8B-35 Lease of parking, recreational or other common facility or area for over 20 years;  option to renew or purchase

New Jersey Statutes

§ 46:8B-35 — Lease of parking, recreational or other common facility or area for over 20 years; option to renew or purchase

New Jersey § 46:8B-35

Title 46PROPERTY

This text of New Jersey § 46:8B-35 (Lease of parking, recreational or other common facility or area for over 20 years; option to renew or purchase) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 46:8B-35 (2026).

Text

When any parking, recreational or other common facility or area has been leased for the use of the unit owners of a condominium for 20 years or more, the condominium association or the condominium unit owners shall have the option of renewing the lease on the parking, recreational or other common facility or area or of buying such facility or area and subject real property at a conscionable price. L.1979, c. 297, s. 5, eff. Jan. 17, 1980.

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When any parking, recreational or other common facility or area has been leased for the use of the unit owners of a condominium for 20 years or more, the condominium association or the condominium unit owners shall have the option of renewing the lease on the parking, recreational or other common facility or area or of buying such facility or area and subject real property at a conscionable price. L.1979, c. 297, s. 5, eff. Jan. 17, 1980.