N.J. Stat. § 46:8C-12.2: Landowner to consider resident homeowner group offer.

5. a. If the resident homeowners, by and through a resident homeowner group, make an offer to the landowner to purchase the private residential leasehold community, whether in response to a notice sent pursuant to subsection a. of section 2 of P.L.1991, c.483 (C.46:8C-11) or subsection a. of section 3 of P.L.1991, c.483 (C.46:8C-12) or otherwise, and whether or not the proposed price, terms, and conditions are identical to those proposed by the landowner or in a third party’s offer, the private residential leasehold community landowner shall consider the resident homeowner group’s offer and negotiate with the resident homeowner group in good faith.

b. A landowner shall not accept or conditionally accept an offer for the sale of a private residential leasehold community unless its price, terms, and conditions are universal and applicable to all potential buyers, nor shall a landowner accept or conditionally accept an offer that contains any provision which would penalize the landowner for entering into an agreement for sale of the community to the resident homeowners or their assignee pursuant to P.L.1991, c.483 (C.46:8C-10 et seq.).

L.2025, c.362, s.5.