N.J. Admin. Code § 5:26-10.1
Current through Register Vol. 56, No. 19, October 7, 2024
Upon application to and registration by the Agency as provided below, a developer may accept a nominal sum, not to exceed $ 2,500, which sum shall be held in trust, as a nonbinding reservation for the purpose of determining the market demand for a planned real estate development or retirement community, and shall not be deemed to be an offer or disposition of an interest therein, provided that the developer shall do so under the terms and conditions contained in this subchapter.
N.J. Admin. Code § 5:26-10.1
See: 15 New Jersey Register 1055(a), 15 New Jersey Register 1758(b).
Increased sum which developer may accept from $ 250.00 to $ 2,500.