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Bill > A1624
NJ A1624
NJ A1624Restricts occupancy of dwelling unit in age-restricted community to older adults following resale.
summary
Introduced
01/27/2016
01/27/2016
In Committee
01/27/2016
01/27/2016
Crossed Over
Passed
Dead
01/08/2018
01/08/2018
Introduced Session
2016-2017 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 that dwelling units in an age-restricted community that are transferred through resale, including mortgage and tax foreclosure sales, execution sales, and bankruptcy sales, must continue to be occupied by households that meet the "housing for older persons" exception under the federal Fair Housing Amendments Act of 1988. This is intended to preserve the age-restricted status of these properties, even when they are sold for affordable housing purposes.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly Housing and Community Development Committee (on 01/27/2016)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2016/Bills/A2000/1624_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2016/Bills/A2000/1624_I1.PDF |
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