Legal Question in Real Estate Law in New Jersey

Re: New Jersey Condo Managment Law

Disclaimer: By reading this response you understand that I do not represent you and that unless you enter a formal retainer agreement with me, I do not represent you nor does it establish an attorney-client relationship between you and me. This answer is given to you for informational purposes only and you are advised to formally retain counsel rather than rely solely upon the information provided in this communication.

ANSWER: Your first question depends upon what the contract between the Condo management company and the condo association states about early termination of the contract. If the contract calls for liquidated damages and states that the parties agree that the amount of liquidated damages is a fair and reasonable estimate of the actual damages resulting from the cancellation (and the liquidated damages amount is fair and reasonable), the condo association will most likely have to pay the damages. The condo association should consult with an attorney to see if a lesser amount can be negotiated based upon all factors involved in the situation including why it is that the contract was terminated early.

As far as your second question goes, you need to call the township in which the property lies and the state to see whether such a license or certification is required.