Cooperative Recording Act

N.J.S.A. 46:8D-1 et seq.

Enacted in 1987 (P.L.1987, c.381), the Cooperative Recording Act of New Jersey establishes a title-registration system for housing cooperatives analogous to deed recording, requiring recording with the county recording officer of a master declaration and a master register, and of transfer documents (or short-form memoranda) when proprietary leases or cooperative shares are sold or assigned. It thereby gives cooperative-share purchasers a public title record and treats cooperatives created after the act's mid-1988 effective date more like condominium ownership, with each share carrying an undivided percentage interest in the common elements. The act applies only to cooperatives created after its effective date.