Legal Question in Wills and Trusts in New Jersey

I live in a subsidized rental apartment (income based) at the following address: 2555 John Kennedy Blvd, Jersey City, NJ - 07304.

My friend owns a condo (his condo is located in a different State of the USA). He would like to create a trust (revocable trust while he is alive) and to place his condo (an apartment) into that trust. He would like to make me the only beneficiary of the first level (after his death this trust becomes irrevocable automatically). After the death of both of us, the same trust should work for my daughter as the beneficiary of the second level. She also lives in a subsidized apartment.

Question: Is it legally possible for the beneficiaries to use a condo of the such a trust (irrevocable trust after the settler's death) and to keep rights for a subsidized apartment? (by " use the condo" I mean: 1) to rent this condo, 2) to sell this condo, 3) to use it as a summer "home" (to live in that condo periodically) and at the same time to keep a subsidized apartment? I would really appreciate your answer. Thank you!


Asked on 5/30/21, 11:09 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Subsidized apartments have stringent rules and regulations on ownership and occupancy that must be followed. Any use in addition to owner occupancy must follow these rules and regulations. Rental or sale is restricted to qualified tenants or new owners, so limitations on these uses must be followed.

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Answered on 5/30/21, 11:52 am


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