New Jersey A3121 mandates notification of rent control or rent leveling ordinances at the closing of real estate transactions.

New Jersey A3121 requires sellers, real estate brokers, or their representatives to inform buyers about any rent control or rent leveling ordinances that might affect the property if the buyer decides to rent it out. This notice must be included in the property condition disclosure statement and can be provided in hard copy or electronically, with acknowledgment from the buyer. The New Jersey Real Estate Commission will determine the specific format and wording of the notice. The act takes effect immediately upon enactment.

New Jersey A3121 mandates notification of rent control or rent leveling ordinances at the closing of real estate transactions.

New Jersey A3121 requires sellers, real estate brokers, or their representatives to inform buyers about any rent control or rent leveling ordinances that might affect the property if the buyer decides to rent it out. This notice must be included in the property condition disclosure statement and can be provided in hard copy or electronically, with acknowledgment from the buyer. The New Jersey Real Estate Commission will determine the specific format and wording of the notice. The act takes effect immediately upon enactment.