N.J. Admin. Code § 5:25-3.8
Current through Register Vol. 56, No. 21, November 4, 2024
The liability of a builder under the new home warranty shall be limited to the purchase price of the home in the first good faith sale thereof or the fair market value of the home on its completion date if there is no good faith sale. In the event a Certificate of Participation misstates the purchase price or the commencement date and the homeowner fails to notify the New Home Warranty Program within 45 days from the actual warranty commencement date, the limit of liability shall be as stated on the Certificate of Participation at the time of validation.
N.J. Admin. Code § 5:25-3.8
See: 17 New Jersey Register 2816(a), 18 New Jersey Register 959(a).
Recodified from 3.7 and added text "In the event ... time of validation."