{"data":{"id":"us-nj/n.j.-stat.-55-14k-91","jurisdiction":"us-nj","citation":"N.J. Stat. § 55:14K-91","heading":"Execution of lease-purchase agreement.","body":"11.\tA 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:\na.\tThe 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;\nb.\tProvisions 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\nc.\tA 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.\nL.2008, c.127, s.11.","path":["TITLE 55 TENEMENT HOUSES AND PUBLIC HOUSING"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"b8bf0aae935f5c2158c433401d7546c808b235b2e9799cd9ba74d8b2104164b6","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-55-14k-90","next":"us-nj/n.j.-stat.-55-14k-92"},"notice":"GroundRules: Original legal text. Not legal advice."}