New Jersey § 55:18-4
Full text of New Jersey New Jersey Statutes § 55:18-4, with citation guidance and answers to common questions.
§ 55:18-4.
A lease entered into under authority of this act shall specify: a. The term of the lease and the conditions, if any, under which the lessee may be
entitled to renewal thereof or to the exercise of an option to purchase the leased
property upon expiration, or during the term, of the lease. Such option to purchase shall be nontransferable. b. The annual rental to be paid to the municipality, and the manner of payment. c. The date, or a series of dates, running from the date of execution of the lease,
upon which the rehabilitation or conversion, or specified stages thereof, shall be
completed. d. The number and type of dwelling units to be provided in the rehabilitated or converted
structure or structures, including the respective numbers of units to be provided
for single occupancy and for families of varying sizes, together with the facilities
to be provided in each unit, or in varying types and sizes of units, and in common
areas or for common use of all tenants. e. The schedule of rents to be charged for units of varying type, size and location,
which schedule shall be subject to the provisions of section 6 of this act. 1 f. The interest on the fair market value of the property and structure, as determined
at the time of execution of the lease to which interest the municipality shall be
entitled upon purchase by the lessee pursuant to options, or on any terms provided
for in the lease or by the terms of this act. g. Any other terms and conditions not inconsistent with the provisions of this act,
or of any other law, to which the lessor municipality and lessee may agree. 1
N.J.S.A. § 55:18-6.
Frequently Asked Questions About New Jersey § 55:18-4
What does New Jersey Statutes § 55:18-4 cover?
Section 55:18-4 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 § 55:18-4?
A common citation format is "New Jersey Statutes § 55:18-4" (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 § 55:18-4 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.