N.J. Admin. Code § 2:77-5.9

Current through Register Vol. 56, No. 24, December 18, 2024

Section 2:77-5.9 - Terms, contingencies and conditions of purchase

(a) Upon the owner's acceptance of an offer, the Board shall complete any and all administrative procedures necessary to consummate the purchase of development potential including, but not limited to, the following:

1. Authorization of an insured title search and a survey to be conducted on lands from which the Board determines to purchase development potential; and

2. Execution of an instrument of transfer that shall be recorded with the deed of the land in the same manner as a deed, and which shall comply with the requirements set forth in N.J.A.C. 2:77-3.1(b)2.

N.J. Admin. Code § 2:77-5.9

Amended by R.2013 d.139, effective 12/16/2013.
See: 45 N.J.R. 495(a), 45 N.J.R. 2541(a).
In (a)2, updated the N.J.A.C. reference.