For decades associations and developers in transition have been plagued by ill-defined concepts embodied in the rules of the New Jersey Department of Community Affairs (DCA) governing the developer’s obligation to pay common expenses for units under development and individually owned “in proportion with the benefit derived by the unit from items included in the budget.” Similarly, the rules have required that developer-prepared budgets include “adequate reserves for repair and replacement of the common elements and facilities.” Read the article…………………………
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