New Jersey § 46:10b-62

§ 46:10b-62.

a. A distressed property conditional conveyance contract and a distressed property

conveyance contract with a distressed property purchaser shall contain in immediate

proximity to the space reserved for the owner's signature a conspicuous statement

in a size equal to at least 14-point boldface type, if the contract is printed, or

in capital letters, if the contract is typed, as follows: “You may cancel this contract for the conveyance of your house, without any penalty

or obligation, at any time before ․․․․․․․․․․․․․․․․․․․․(Date and time of day). See the attached notice of cancellation form for an explanation of this right.” The distressed property purchaser shall accurately enter the date and time of day

on which the cancellation right ends. b. A contract with a distressed property purchaser shall be accompanied by a completed

form in duplicate, captioned “NOTICE OF CANCELLATION” in a size equal to a 14-point

boldface type, if the contract is printed, or in capital letters, if the contract

is typed, followed by a space in which the distressed property purchaser shall enter

the date on which the owner executes any contract. This form shall be attached to the contract, shall be easily detachable, and shall

contain in at least 14-point type, if the contract is printed, or in capital letters,

if the contract is typed, the following statement written in the same language as

used in the contract: “NOTICE OF CANCELLATION ․․․․․․․․․․․․․․․․․․․․ (Enter date contract signed) You may cancel this contract for the conveyance of your home, without any penalty

or obligation, at any time before ․․․․․․․․․․․․․․․․․․․․ (enter date and time of day). To cancel this transaction, mail or deliver a signed and dated copy of this cancellation

notice to ․․․․․․․․․․․․․․․․․․․․ (Name of purchaser) at ․․․․․․․․․․․․․․․․․․․․ (Street address of purchaser's place of business) NOT LATER THAN ․․․․․․․․․․․․․․․․․․․․ (Enter date and time of day). I hereby cancel this transaction on ․․․․․․․․․․․․․․․․․․․․ (Date)․․․․․․․․․․․․․․․․․․․․ (Owner's signature).” c. The distressed property purchaser shall provide the owner with a copy of the contract

and the attached notice of cancellation in duplicate at the time the contract is executed

by all parties. d. The distressed property purchaser shall record the contract and the attached notice

of cancellation with the county clerk in the county in which the distressed property

is located within 10 business days of the signing of the contract by both parties.