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Long Hill Township City Zoning Code

§ LU-138.8

Foreclosures.

A judgment of foreclosure or a deed in lieu of foreclosure by a financial institution regulated by State and/or Federal law shall extinguish controls on affordable housing units provided there is compliance with N.J.A.C. 5:92-12.10. Notice of foreclosure shall allow the Township to purchase the affordable housing unit at the maximum permitted sale price. Failure of the Township to purchase the affordable housing unit shall result in COAH adding that unit to the municipal present and prospective fair share obligation.