New Jersey A3121 mandates notification of rent leveling controls at the time of closing of real estate transactions.
New Jersey A3121 requires sellers, real estate brokers, salespersons, or attorneys to inform buyers of any rent control or rent leveling ordinances that may 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 sent by hard copy with return receipt or electronically. The New Jersey Real Estate Commission will determine the form and manner of this notice. The act takes effect immediately.
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