• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

"Adequate Reserves" Statute in NJ?

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

ghtix

Junior Member
What is the name of your state (only U.S. law)? NJ

I own a condo in NJ.

NJ does not have a law that requires condo associations to have a reserve study done every so often - or at all - as some states do. But I keep reading that NJ does have a law that a condo association must maintain "adequate reserves."

I have searched, but cannot find whatever law this is.

Can someone / anyone cite the NJ law or statute that speaks to this "adequate reserves" requirement?

There is nothing in the NJ Condominium Act speaking to this.

Thanks.
 
Last edited:



Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top