New Jersey Statutes Title 2A. Administration of Civil and Criminal Justice 2A § 18-61.48a

a. A qualified municipality may, by ordinance, prohibit the conversion of any affordable rental housing unit to a condominium or cooperative form of ownership. Upon the adoption of the ordinance to prohibit the conversion of affordable rental housing units, the prohibition shall remain in effect until such time as the governing body adopts a resolution to suspend the prohibition, as set forth in paragraph (3) of this subsection. An ordinance to prohibit the conversion of affordable rental housing units shall:

b. The governing body of a qualified municipality shall transmit any ordinance or resolution adopted pursuant to subsection a. of this section to the department within five days of adoption.

c. Notwithstanding any other provision of law, rule, or regulation to the contrary, the department shall not approve an application for registration for the conversion of any affordable rental housing unit located in a qualified municipality during such time as the ordinance adopted pursuant to subsection a. of this section remains in effect.

d. Notwithstanding any other provision of law, rule, or regulation to the contrary, any application for registration of conversion, notice of intention to convert, full plan of conversion, public offering statement, or other required documentation submitted pursuant to any law or regulation, including but not limited to, P.L.1991, c. 509 (C.2A:18-61.40 et al.), P.L.1981, c. 226 (C.2A:18-61.22 et al.), P.L.1974, c. 49 (C.2A:18-61.1 et al.), or P.L.1977, c. 419 (C.45:22A-21 et seq.), and that is associated with the conversion of any affordable rental housing unit located in a qualified municipality, shall be deemed null and void if submitted to the department, designated administrative agency, or tenant during such time as the ordinance adopted pursuant to subsection a. of this section remains in effect.