Posts by Barry Caplan

REAL ESTATE COMMISSION 11:5-9A.2 funds in accordance with the Act. If the escrow agent is not located in the State of New Jersey, then this person shall subject himself or herself to the jurisdiction of the Commission with respect to disputes that arise out of the provisions of the Act. “Incidental benefit” means an accommodation, [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-117/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 117</span></a></p>

11:5-9A.3 INSURANCE i. A “specific timeshare interest,” which means an interest wherein a purchaser has, only through a reservation system: (1) A priority right to reserve accommodations at a specific timeshare property without competing with owners of timeshare interests at other component sites that are part of the multi-site timeshare plan, which priority right extends [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-118/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 118</span></a></p>

REAL ESTATE COMMISSION 11:5-9A.4 (1) The right of both the developer and the potential purchaser to unilaterally cancel the reservation at any time; (2) The placement by the developer of any deposit paid by the purchaser into an escrow account maintained in accordance with (b)3iv below; (3) The repayment to the potential purchaser of his [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-119/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 119</span></a></p>

11:5-10.1 INSURANCE Comprehensive registration Preliminary registration Concurrent preliminary registration Abbreviated registration Amendments to registration Exemption to market to current owners Limited exemption Statutory exemption $ 1,000 plus $ 50.00 per timeshare interest, up to a maximum of $ 7,500 $ 3,000 if filed separately $ 500.00 in addition to comprehensive or abbreviated registration fee $ [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-126/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 126</span></a></p>

REAL ESTATE COMMISSION 11:5-10.6 1. Whether comments received indicated a previously unrecognized impact on regulated entities or persons; or 2. Whether comments received raise unanticipated issues related to the notice of proposal. (d) Where a 30-day extension of the comment period under (c) above is granted, the proposal shall not be adopted until the Commission [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-127/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 127</span></a></p>

11:5-10.7 INSURANCE (d) Any submission by a petitioner which is not in substantial compliance with the requirements specified above shall not be considered a petition for rulemaking requiring further Commission action pursuant to N.J.S.A. 52:14B-4(f). (e) Within 30 days of receiving a petition for rulemaking the Commission shall review the same to ascertain if the [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-128/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 128</span></a></p>

REAL ESTATE COMMISSION 11:5-11.5 3. “Answer” means the pleading filed by a licensee or other party against whom an order to show cause or complaint is directed which sets forth the respondent’s position with the respect to each factual and legal allegation in the order or complaint and specifies all affirmative defenses raised by the [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-129/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 129</span></a></p>

REAL ESTATE COMMISSION 11:5-9A.10 2. The developer certifies that all purchasers shall be provided with all disclosure documentation required by law to be provided in the jurisdiction in which the timeshare plan is located; 3. The developer certifies that New Jersey purchasers shall be provided with a right to rescind their purchase within seven days [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-125/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 125</span></a></p>

11:5-9A.7 INSURANCE may be exempt from the Act. Such an application for exemption shall be accompanied by a non-refundable fee of $ 100.00. 1. In the event the Commission shall determine that the offering is exempt from the Act, it shall issue a letter of exemption setting forth the facts upon which the determination is [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-124/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 124</span></a></p>

REAL ESTATE COMMISSION 11:5-9A.4 full occupancy together with the estimated annual assessment and monthly charges to be assessed to each type of unit. The budget shall specifically state the amount set aside as reserves for the replacement of the common elements and facilities, as certified by an independent public accountant or other independent expert. The [...]<p><a class="btn btn-secondary understrap-read-more-link" href="https://caplanschool.com/the-new-jersey-real-estate-license-act-2012-title-11-page-121/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 121</span></a></p>