New Jersey § 55:14k-91
Full text of New Jersey New Jersey Statutes § 55:14k-91, with citation guidance and answers to common questions.
§ 55:14k-91.
A sponsor who receives monies from the fund and the homeowner shall execute a lease-purchase
agreement, not to exceed a term of 36 months, that includes the following: a. The terms and conditions under which the sponsor shall convey the property to the
homeowner or other member of the household upon termination of the use and occupancy
period; b. Provisions permitting the homeowner and other members of the household to remain
in the property during the use and occupancy period in exchange for an affordable
rent; and c. A provision that the property will be sold back to the homeowner or to another
member of the household at a price not to exceed the price at which the sponsor purchased
the property plus reasonable sponsor maintenance costs.
Frequently Asked Questions About New Jersey § 55:14k-91
What does New Jersey Statutes § 55:14k-91 cover?
Section 55:14k-91 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 55:14k-91?
A common citation format is "New Jersey Statutes § 55:14k-91" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 55:14k-91 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.