STATE OF NEW JERSEY
219th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2020 SESSION
Sponsored by:
Assemblyman ROBERT D. CLIFTON
District 12 (Burlington, Middlesex, Monmouth and Ocean)
Co-Sponsored by:
Assemblyman Dancer
SYNOPSIS
Requires disclosure of original purchase price for land to be sold to a county, county agriculture development board, or municipality for farmland preservation purposes.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning disclosure of purchase price information for farmland being preserved, and supplementing P.L.1983, c.32 (C.4:1C-11 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Whenever a county, county agriculture development board, or municipality acquires for farmland preservation purposes real property in fee simple or a development easement on real property, the individual, corporation, limited liability company, or other legal entity selling the real property or development easement shall disclose to the purchasing entity, prior to the sale, the price that the individual, corporation, limited liability company, or other legal entity paid for the real property that is being sold or to which the development easement that is being sold is attached.
2. This act shall take effect immediately.
STATEMENT
This bill requires, when selling real property or a development easement on real property for farmland preservation purposes to a county, county agriculture development board, or municipality, the individual, corporation, limited liability company, or other legal entity selling the property or easement to disclose, prior to sale, the price that it paid for the real property.