New Jersey Real Estate Practice Exam Practice Question
Scenario/Extract:
A developer intends to subdivide a large parcel of land and is in the process of land planning. The developer has determined the geographic boundaries of the individual lots and how the streets in the development will be designed to give access to each lot.
When can the developer begin to list lots for sale with a broker?
Correct Answer: C
Rationale: Listing lots for sale requires formal approval processes to ensure compliance with local regulations.
Option C is accurate as it specifies that the developer must submit a plat map, receive approval, and record it. This step confirms that the development meets local standards and is legally recognized, thus allowing for the sale of lots.
Option A is incorrect because prescriptive easements pertain to access rights rather than the ability to sell lots, which requires formal approval.
Option B is misleading; while a conditional use permit is important for development, it does not directly authorize the sale of lots without the approved plat.
Option D is also incorrect, as merely having zoning approval does not replace the need for the developer to complete the necessary platting process and obtain local authority approval before listing lots.
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