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>

REAL ESTATE COMMISSION 11:5-9A.7 language and combine simplicity and accuracy in order to fully advise purchasers of their rights, privileges, obligations and restrictions. 1. The public offering statement shall be in a form authorized by the Commission. No change in form shall be made without the consent of the Commission. 2. The Commission may require [...]<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-123/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 123</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.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>

11:5-10.1 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>

11:5-9A.5 INSURANCE 11:5-9A.5 Amendments to registrations and to public offering statements (a) The registrant shall file with the Commission amendments to its registration application and/or public offering statement reflecting any material or adverse change(s) in previously supplied information or documents in accordance with N.J.S.A. 45:15-16.60b(1), in order to ensure that the information provided to purchasers [...]<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-122/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 122</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>

11:5-9A.4 INSURANCE content of the application for registration, the Act and the rules promulgated thereunder, and that the contents of the application are true and correct and conform with those requirements. A second affidavit, to be completed by the designated New Jersey broker of record, shall accompany the application. The broker’s affidavit and application for [...]<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-120/">Read More...<span class="screen-reader-text"> from REGULATIONS FOR THE NEW JERSEY REAL ESTATE COMMISSION Page 120</span></a></p>