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New Jersey Statutes Title 26. Health and Vital Statistics 26 § 2H-7.27

Current as of February 19, 2021 | Updated by FindLaw Staff

a. Prior to selling or transferring ownership of the land or other real property on which a nursing home is located, the prospective new owner shall submit notice to the Department of Health and the Department of Human Services, which notice shall include the following items:

(1) the sale or transfer of real property fee established by the Department of Health;

(2) a cover letter stating the applicant's intent to purchase the land or other real property on which a nursing home is located, and identification of the nursing home by name, address, and county;

(3) a description of the proposed transaction, including:

(a) identification of the current owners of the land or other real property on which a nursing home is located;

(b) identification of 100 percent of the proposed new owners, including the names and addresses of all principals and interested parties; and

(c) if applicable, a copy of an organizational chart, including parent corporations and wholly-owned subsidiaries;

(4) a copy of the agreement of sale or transfer, the proposed terms of the lease, rent, or use agreement with the nursing home and, if applicable, a copy of any management agreements; and

(5) an attestation by the new owners of the land or other real property that they will lease, rent, or authorize use of the land or other real property by the nursing home at a rate that is consistent with the fair market value for the lease, rent, or use of similar facilities in the same market area.

b. A summary of the notice submitted pursuant to subsection a. of this section, including the names of the prospective new owners, shall be made available on the Department of Health's Internet website.

c. Nursing homes shall report to the Department of Health their rates or average rates for the lease, rent, or use of land or other real property in a manner determined by the department. The department shall post the rates or average rates for the lease, rent, or use of land or other real property reported by nursing homes on its Internet website.

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Cite this article: FindLaw.com - New Jersey Statutes Title 26. Health and Vital Statistics 26 § 2H-7.27 - last updated February 19, 2021 | https://codes.findlaw.com/nj/title-26-health-and-vital-statistics/nj-st-sect-26-2h-7-27/

Read this complete New Jersey Statutes Title 26. Health and Vital Statistics 26 § 2H-7.27 on Westlaw

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