New Jersey § 46:8b-31

§ 46:8b-31.

The Legislature finds and declares that many leases involving use of parking, recreational

or other common facilities or areas by residents of condominiums were entered into

by parties wholly representative of the interests of a condominium developer at a

time when the condominium unit owners not only did not control the administration

of their condominium but also had little or no voice in such administration. Such leases often contain numerous obligations on the part of either or both a condominium

association and condominium unit owners with relatively few obligations on the part

of the lessor. Such leases may or may not be unconscionable in any given case. Nevertheless, the Legislature finds that certain onerous obligations and circumstances

warrant the establishment of a rebuttable presumption of unconscionability of certain

leases, as specified in this act. The Legislature also finds and declares that many contracts for sale of condominium

units, master deeds and association bylaws contain provisions affording the developer

or the association a right of first refusal to purchase in the event of resale, gift

or devise of condominium units by the purchaser, provisions which are in the financial

interest of the developer or the association and are designed to limit the freedom

of the purchaser to resell the property as he sees fit. The Legislature finds that the relative balance between the consideration given

the financial interests of the developer or the association and the limitations placed

upon the property rights of the purchaser contained in such provisions is such as

to warrant the establishment of a rebuttable presumption of unconscionability with

respect to those master deeds and bylaws, and amendments thereof, adopted prior to

the effective date of this amendatory and supplementary act, and to warrant the prohibition

of such provisions in contracts for the sale of condominium units executed, and in

master deeds and bylaws or amendments of master deeds or bylaws adopted, on or after

that date.