Title 46, Title 46: PROPERTY

46:8D-13. Recording, indexing fees The transferee shall pay the recording fees for each instrument. In addition, the county recording officer shall levy and collect from the transferor, a fee of $1.00 per page for indexing of the transfer in the master register for the cooperativ…

46:8D-13.1. Findings, declarations relative to rental housing and cooperatives; agreements, certain, unenforceable 1. a. The Legislature finds and declares that it is in the public interest of the citizens of this State that the availability of rental housing be encouraged. There…

46:8D-14. Recording of financing statement security agreement, lien a. The lender of funds secured by a promissory note and pledge of the stock and proprietary lease of a cooperative unit shall record its lien by the method of recordation provided in the applicable statutes. If t…

46:8D-15. Liens Any lien on a cooperative ownership interest is governed by the law designated in the instrument and selected by the lender for recordation of the lien. Any assignment, modification, release or discharge of the lien shall adhere to the recordation procedures set f…

46:8D-16. Deed of revocation Any cooperative property may be removed from the provisions of this act by a deed of revocation duly executed by all unit lessees or the sole owner of the property and the holders of all mortgages or other liens affecting all units and recorded in the…

46:8D-17. Resubmission permissible The removal of any property from the provisions of this act shall not bar the resubmission of the property to the provisions of this act in the manner herein provided. 1987, c. 381, s.18.

46:8D-18. Adherence to definition of "cooperative" a. The Department of Community Affairs shall not accept for registration as a cooperative under "The Planned Real Estate Development Full Disclosure Act," P.L. 1977, c. 419 (C. 45:22A-21 et seq.), any offering plan which would no…

46:8D-2. Findings, declarations The Legislature finds that issuance of proprietary real estate leases by cooperative corporations and other cooperative legal entities is becoming a popular practice in New Jersey which is usually accomplished by a ledger book transfer to the lesse…

46:8D-3. Definitions As used in this act: a. "Association" means the entity responsible for the administration of a cooperative which entity may be incorporated or unincorporated, profit or nonprofit. b. "Bylaws" means the governing regulations adopted under this act for the admi…

46:8D-4. Recording of documents A county recording officer shall establish and maintain all appropriate books for the recording of documents which are entitled to be recorded under this act. 1987, c. 381,s.4.

46:8D-5. Plan of cooperative ownership A plan of cooperative ownership is created by recording in the office of the county recording officer of the county wherein the land is located a master declaration and master register of all cooperative units allocated for separate occupanc…

46:8D-6. Master declaration The master declaration for a cooperative shall contain the following elements: a. A legal description by metes and bounds and tax lot and block of the lands to be dedicated to the cooperative form of ownership. b. A statement dedicating the land descri…

46:8D-7. Master register The master register shall contain the following elements: a. Separate identification of each unit by distinctive letter, name or number or combination thereof. b. The percent of common ownership representing each owner's proportionate undivided interest i…

46:8D-8. Fees The county recording officer in each county shall charge the fees prescribed for recording of real property documents for the recording of the documents required in sections 6 and 7 of this article. 1987, c. 381, s.8.

46:8D-9. Lands in more than 1 county, state Whenever a proposed cooperative plan involves lands located in more than one county or state, the proponent of the cooperative shall comply with requirements of this article by recording the documents in each county or state in which an…