NJ S716

Extends the purchase response period for resident homeowners from 45 days to 120 days when a manufactured home park landowner offers land for sale, and reduces the required approval threshold from two-thirds to 51 percent of resident homeowners.

Requires landowners to provide sale notifications via certified mail to the Department of Community Affairs, municipal officials, nonprofit affordable housing organizations, and each resident homeowner, rather than only to a homeowners' association board.

Allows residents to form informal groups or associations to exercise purchase rights, eliminating the previous requirement for a formally structured homeowners' association with specific bylaws and procedures.

Mandates that purchase contracts include a financing contingency of at least 90 days and permits landowners to require refundable earnest money deposits of up to $50,000.

Establishes confidentiality protections for nonpublic information exchanged during purchase negotiations, with violations entitling the disclosing party to injunctive relief, damages, and attorney's fees.