What percentage of ownership is required for a disclosure statement?

In New Jersey, a disclosure statement is typically required when an individual or entity has a certain level of ownership interest in a business or real estate transaction. A 10% ownership threshold is significant because it represents a level of control and influence in decisions that could affect the operation or financial performance of a company.

Requiring disclosure at this percentage ensures transparency in business dealings, protecting both the public and potential investors by informing them of individuals or entities that have a vested interest in a project. This threshold helps to identify stakeholders who could impact the planning and approval processes, thereby fostering accountability in professional planning practices.

The higher thresholds often introduced in various contexts (such as 15% or 20%) do not align with the commonly accepted standard for disclosure in professional settings, which is why 10% is specifically noted for its importance in planning disclosures.