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Bill > A691
NJ A691
NJ A691Restricts occupancy of dwelling unit in age-restricted community to older adults following resale.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill requires dwelling units in an age-restricted community that are transferred by resale to remain occupied by households that will allow the age-restricted community to remain "housing for older persons," as defined by the federal "Fair Housing Amendments Act of 1988," 46 U.S.C. ss.3601 et seq. This bill also clarifies the definition of "resale" in P.L.2008, c.71 to provide that resale includes mortgage and tax foreclosure sales, execution sales, and bankruptcy sales. The sponsors intend this legislation to preserve age-restricted properties' unique status by requiring that dwelling units transferred by resale, even for affordable housing purposes, continue to be occupied by older adults.
AI Summary
This bill requires dwelling units in an age-restricted community that are transferred by resale, including mortgage and tax foreclosure sales, execution sales, and bankruptcy sales, to remain occupied by households that will allow the age-restricted community to maintain its status as "housing for older persons" as defined by the federal Fair Housing Amendments Act of 1988. This is intended to preserve the unique status of age-restricted properties, even when the resale is for affordable housing purposes, by ensuring the dwelling units continue to be occupied by older adults.
Committee Categories
Health and Social Services
Sponsors (1)
Last Action
Introduced, Referred to Assembly Aging and Human Services Committee (on 01/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A691 |
| BillText | https://pub.njleg.gov/Bills/2024/A1000/691_I1.HTM |
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