New Jersey § 45:15-16
Full text of New Jersey New Jersey Statutes § 45:15-16, with citation guidance and answers to common questions.
§ 45:15-16.
a. Any person who suffers any ascertainable loss of moneys as a result of the failure
of another to comply fully with the provisions of this act may bring an action or
assert a counterclaim in any court of competent jurisdiction. In any action filed under this section in which a defendant is found to have knowingly
engaged in any false, deceptive, misleading promotional or sales methods or discriminatory
advertising on the basis of race, sex, creed, color, marital status, national origin
or religion, concealed or fraudulently diverted any funds or assets so as to defeat
the rights of subdivision purchasers, made an intentional misrepresentation or concealed
a material fact in an application for registration, or disposed of any subdivision
or subdivided lands required to be registered under section 7 of this act which are
not so registered, the court shall, in addition to any other appropriate legal or
equitable remedy, award double the damages suffered, and court costs expended, including
reasonable attorney's fees. In the case of an untruth, omission, or misleading statement the developer sustains
the burden of proving that the purchaser knew of the untruth, omission or misleading
statement, or that he did not rely on such information, or that the developer did
not know, and in the exercise of reasonable care could not have known, of the untruth,
omission, or misleading statement. b. The court may, in addition to the remedies provided in this act, frame any other
relief that may be appropriate under the circumstances including, in the court's discretion,
restitution of all monies paid and, where a subdivider has failed to provide to a
purchaser a copy of the current public offering statement approved by the commission
prior to execution of the contract or agreement, rescission of the contract. If the purchaser fails to establish a cause of action, and the court further determines
that the action was wholly without merit, the court may award attorney's fees to the
developer or subdivider. c. Every person who directly or indirectly controls a subdivision or developer and
violates the provisions of subsection a. of this section, every general partner, officer,
or director of a developer, and every person occupying a similar status or performing
a similar function, shall be jointly and severally liable with and to the same extent
as the developer. The person otherwise liable pursuant to this subsection sustains the burden of proof
that he did not know, and in the exercise of reasonable care could not have known,
of the existence of the facts by reason of which the liability is alleged to exist. There is a right to contribution among persons found liable. d. Any stipulation or provision purporting to bind any purchaser acquiring a parcel,
lot, unit, or interest in any development subject to the provisions of this act to
a waiver of compliance with the provisions of this act, shall be void. e. Any party to an action asserting a claim, counterclaim or defense based upon any
violation of this act shall mail a copy of the initial or responsive pleading containing
the claim, counterclaim or defense to the commission within 10 days of the filing
of the pleading with court. Upon application to the court where the matter is pending, the commission shall
be permitted to intervene or to appear in any status appropriate to the matter.
Frequently Asked Questions About New Jersey § 45:15-16
What does New Jersey Statutes § 45:15-16 cover?
Section 45:15-16 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 45:15-16?
A common citation format is "New Jersey Statutes § 45:15-16" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 45:15-16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.