L 1999, c 241, §4 provides:

"SECTION 4. No purchase or conveyance of the leased fee interest made prior to the effective date of this Act [July 2, 1999] to or by an association of owners in a good faith belief that the purchase or conveyance was valid, and no borrowing, mortgage, or pledge by an association of owners in connection therewith shall be invalid because it was without capacity or power to do such an act or to make or receive such conveyance, transfer, or loan. Nor shall any apartment owner be excused from paying the owner's share of the common expenses incurred in acquiring the leased fee interest to the land, or to service any debt associated therewith on account of any such lack of capacity [or] power."