NJ A2832

Prohibits homeowners' associations, condominium associations, cooperatives, and other planned real estate developments from treating the placement of a unit into a living, revocable trust as a title transfer

Bars associations from charging membership fees, capital contribution fees, transfer fees, transfer taxes, or other revenue-raising charges when a member places their property into a living, revocable trust

Allows associations to charge only fees that are reasonably related to actual costs incurred in processing such trust transfers

Applies to cooperatives regarding the transfer of shares or proprietary leases into living, revocable trusts

Takes effect immediately upon enactment and supplements the Planned Real Estate Development Full Disclosure Act (P.L.1977, c.419)