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Current as of January 01, 2024 | Updated by Findlaw Staff
a. Unless the method of disposition is adopted for purposes of evasion, the provision of this act shall not apply to offers or dispositions:
(1) By an owner for his own account in a single or isolated transaction;
(2) Wholly for industrial, commercial, or other nonresidential purposes;
(3) Pursuant to court order;
(4) By the United States, by this State or any of its agencies or political subdivisions;
(5) Of real property located without the State;
(6) Of cemetery lots or interests;
(7) Of less than 100 lots, parcels, units or interests; provided, however, that with respect to condominiums and cooperatives, this exemption shall not apply, irrespective of the number of lots, parcels, units, or interests offered or disposed of;
(8) Of developments where the common elements or interests, which would otherwise subject the offering to this act, are limited to the provision of unimproved, unencumbered open space;
(9) In a development composed wholly of rental units, where the relationship created is one of landlord and tenant;
b. The agency may from time to time, pursuant to its rules and regulations, exempt from any of the provisions of this act any development, or any lots, units, parcels, or interests in a development, if it finds that the enforcement of this act with respect to such, is not necessary in the public interest or required for the protection of purchasers by reason of the small amount of the purchase price involved, the limited character of the offering, or the limited nature of the common or shared elements.
Cite this article: FindLaw.com - New Jersey Statutes Title 45. Professions and Occupations 45 § 22A-25 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-45-professions-and-occupations/nj-st-sect-45-22a-25/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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