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New Jersey Statutes, Title: 46, PROPERTY
Chapter 8a:
Section: 46:8a-12: Waiver of regime
Two-thirds of the coowners or the sole owner of property constituted into a horizontal property regime may waive this regime and regroup or merge the records of the individual apartments with the principal property, provided, that the individual apartments are unencumbered, or if encumbered, that the creditors in whose behalf the encumbrances are recorded agree to accept as security the undivided portions of the property owned by the debtors.
L.1963, c. 168, s. 12. Amended by L.1978, c. 124, s. 5, eff. Oct. 5, 1978.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 46:8a-12 (if available):
Court decisions that cite this statute:
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