N.J. DCA Landlord/Tenant Information Series — Condominium and Cooperative Conversion Law

Citation
N.J. DCA Landlord/Tenant Information Series — Condominium and Cooperative Conversion Law
Jurisdiction
New Jersey (state)
Source
Official source
Original Source
https://www.nj.gov/dca/codes/publications/pdf_lti/condo_laws.pdf ↗

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2. The Legislature finds that the provision and maintenance of an adequate supply of
housing affordable to persons of low and moderate income in this State has been and is
becoming increasingly difficult as a result of economic and market forces which require special
public actions or subsidies to counteract. One particularly acute result of this has been the
continual increase in the number of displaced or homeless persons who, lacking permanent
shelter, require special assistance from public services in this State and in surrounding states in
order to remain alive. The Legislature has in the past taken various actions, and is currently
considering several measures, to increase the supply of affordable housing in the State. At the
same time, it is necessary to protect residential tenants, particularly those of advanced age or
disability, or lower economic status, from the effects of eviction from affordable housing in
recognition of the high costs, both financial and social, to the public of displacement from
affordable housing and of homelessness. The Legislature has in the past through various
enactments recognized that the eviction of residential tenants pursuant to the process of
conversion of residential premises to condominiums or cooperatives exacerbates homelessness
and makes more difficult the maintenance of an adequate supply of low and moderate income
housing. The Legislature, therefore, declares that it is in the public interest to establish a tenant
protection program specifically designed to provide protection to residential tenants, particularly
the aged and disabled and those of low and moderate income, from eviction resulting from
condominium or cooperative conversion.

L.1991,c.509,s.2.
2A:18-61.42. Definitions

3. As used in this act: