New Jersey Affidavit of Occupancy and Financial Status
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FAQ
Most towns in New Jersey require a landlord to obtain a new Certificate of Occupancy each and every time a new tenant moves in to a residential dwelling.In towns where certificates of occupancy are required, a dwelling rented without a certificate of occupancy constitutes an illegal contract.
Once the certificate of occupancy is written and issued, it is good for 90 days.
Even if you receive your certificate of occupancy, you may have to meet other inspection requirements before you can sell. In most New Jersey cities, for instance, you can't sell unless the fire inspector approves the number and placement of smoke detectors in your house.
Realty Transfer Fee: Sellers pay a 1% Realty Transfer Fee on all home sales. The buyer is not responsible for this fee. However, buyers may pay an additional 1% fee on all home sales of $1 million or more. You can find more information on the Realty Transfer Fee, including rates and exemptions, here.
A Temporary Certificate of Occupancy (TCO) may be issued if the work is substantially complete, there are no outstanding health or safety issues and the building or space can be occupied safely. A TCO is issued for a defined period of time during which any remaining items are to be completed.
Page 1. The following is a check list for obtaining a Certificate of Occupancy. This inspection is a visual inspection mainly looking for safety hazards and unsanitary conditions along with any Code Violations.
A Certificate of Occupancy is the document which is given at the completion of the project. The Certificate of Occupancy, issued by the Construction Official, permits occupancy of a building or structure.
In New Jersey, sellers of residential properties must comply with smoke detector, fire extinguisher and carbon monoxide regulations.Depending on the city and county in which the property is located, you may also have to obtain a certificate of occupancy.
NJ Taxation An Affidavit of Consideration (RTF-1 ) must be filed with any deed in which a full or partial exemption is claimed from the Realty Transfer Fee.
