N.J.S.A. 45:22A-44.2
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PREDFDA — Capital Reserve Study Requirements
Added by P.L.2023, c.214 (signed January 8, 2024). Requires associations of planned real estate developments to obtain a capital reserve study and to update it at least once every five years, paired with a proposed 30-year funding plan (N.J.S.A. 45:22A-44.3) that establishes adequate capital reserve funding without need of a special assessment or loan. Associations whose common-area capital assets total less than $25,000 are exempt. Funding deficiencies may be remediated over up to 10 years when the required increase exceeds 10 percent of the prior year's assessment.
Reviewed · New Jersey changes feed
Financial
| Ref | Requirement |
|---|---|
| New Jersey HOAs, condos, and co-ops must get a reserve study, refresh it at least every five years, and fund reserves against a 30-year plan. |
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