NJ S413

Extends the protected tenancy period under New Jersey's "Senior Citizens and Disabled Protected Tenancy Act" from 40 years to the full lifetime of qualifying senior citizen tenants (age 62+) and disabled tenants

Applies to tenants living in buildings converted from rental housing to condominiums, cooperatives, or other ownership structures who cannot be evicted solely due to the conversion

Qualifying tenants must have resided in the building as their principal residence for at least one year before the conversion recording, or have a lease for more than one year

Takes effect immediately and applies to all tenancies in effect or entered into on or after the effective date

Cites increased life expectancies since the original 1981 act and economic disruptions from COVID-19 as justification for extending protections