Requires developer under "The Planned Real Estate Full Disclosure Act" to post bond with DCA and provides for more accountability to owners in common interest community.

This bill requires developers of planned real estate communities to post a bond with New Jersey's Department of Community Affairs (DCA) to secure common element construction and maintenance. Developers must maintain adequate reserve accounts for repairs (e.g., roofs, paving) and provide annual audits of association funds while controlling the community board. Upon transitioning control to owners, developers must provide engineering reports, proof of municipal approvals, and a full accounting of association activities. The bill also allows two or more owners to file warranty claims derivatively on behalf of the community during developer control.