Extends protected tenancy period for certain tenants who are senior citizens and certain tenants with disabilities.

This bill (S 413) extends the protected tenancy period for qualifying senior citizens (62+ years) and disabled tenants in New Jersey when their rental buildings convert to condos or cooperatives. It changes the previous 40-year protection to a full lifetime of the tenant, preventing forced evictions due to building conversions. Tenants must have lived in the unit for at least one year before conversion and meet income or disability criteria (e.g., medically determined disability or 60% veterans' disability rating). The law applies specifically to buildings converting from rental use, ensuring these tenants can remain in their homes without rent hikes tied to the conversion.