N.J. DCA Landlord/Tenant Information Series — Condominium, Fee Simple & Cooperative Conversion, and Mobile Home Park Retirment Regulations

Citation
N.J. DCA Landlord/Tenant Information Series — Condominium, Fee Simple & Cooperative Conversion, and Mobile Home Park Retirment Regulations
Jurisdiction
New Jersey (state)
Source
Official source
Original Source
https://www.nj.gov/dca/codes/publications/pdf_lti/condo_regs.pdf ↗

Related Parts of This Source

Full Text

1,330 chars 
(c) Taxable income shall include all income subject to the New Jersey Gross Income Tax,
without allowance for any deductions or exemptions. Non-taxable income shall include,
without limitation, any excluded pension payments (exclusive of moneys designated as
refunded employee contributions), any Social Security, SSI or Railroad Retirement
payments, any payments from any public assistance program and any interest on tax
exempt securities or accounts. Any lump-sum, non-repeated distribution shall be considered
as income only to the extent of the amount of annuity actuarially available to a person of
the recipient's age and sex, at the prevailing interest rate, during the year in question, out
of the lump-sum payment after there has been subtracted from such lump-sum payment
any contributions made by the recipient or by a person who designated the recipient as his
or her beneficiary.

Amended by R.1988 d.191, effective May 2, 1988. Amended by R.1991 d.252, effective May 20, 1991.

§ 5:24-2.4 Principal residence requirement

(a) No protected tenancy status shall be allowed for a tenant not occupying the dwelling
unit as his or her principal residence.

(b) A dwelling unit shall be presumed to be a tenant's principal residence if it is physically
occupied by the tenant for at least 184 days in each calendar year.