Requires multiple dwelling building owners to provide notice to tenants and tenant associations of certain sales and provides tenant association with opportunity to purchase multiple dwelling.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill requires building owners of multiple dwellings in New Jersey to inform tenants and tenant associations about planned sales. It also gives tenant associations the opportunity to purchase the building before it’s sold. The law establishes procedures for notice, offers, and potential sales to tenant associations, aiming to preserve affordable housing options and tenant control. It also includes provisions for short-sale transactions and ensures tenants are informed about these processes.
Bill text
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