New Jersey Condominium Law

New Jersey Condominium Law governs the creation, management, and operation of condominiums in the state. It outlines the rights and responsibilities of both the condominium association and the unit owners. Key aspects include the establishment of rules and regulations, the process of property management, and the handling of disputes. Owners typically pay monthly fees for communal upkeep and must comply with the association's bylaws. The law aims to ensure fair governance, transparent financial practices, and the maintenance of shared property, promoting harmonious living among residents.