N.J. Admin. Code § 18:14-2.6

Current through Register Vol. 56, No. 8, April 15, 2024

Section 18:14-2.6 - Proof of ownership; beneficial interest; partnership or fiduciary ownership; cooperative or mutual housing ownership interest

(a) On October 1 of the pre-tax year, the claimant must be the owner of the dwelling house, which is a constituent part of the real estate on which the deduction is claimed, or the owner of a dwelling house, which is assessed as real property but which is situated on land owned by another or others, or residing as a tenant-shareholder in a cooperative or a mutual housing corporation. A claimant should be prepared to furnish, on request of the assessor or collector, proof of ownership of the property for which the deduction is claimed. Where the claimant asserts that his or her interest in the dwelling house on which the deduction is claimed arises from a will or the intestate laws of this State, the claimant must demonstrate that he or she is the owner of the legal title to such property, individually or jointly, or has a life estate in such dwelling house. A copy of a deed or probated will indicating ownership is acceptable proof of legal ownership of such property.

(b) A claimant must furnish, on request of either the municipal tax assessor or the municipal tax collector, proof of ownership of the real property for which the deduction is claimed.

(c) The ownership requirement shall be satisfied by the holding of a beneficial interest in the dwelling house where legal title is held by another who retains a security interest in the dwelling house to secure a debt.

(d) The right to claim a deduction extends to property the title to which is held by a partnership, to the extent of the claimant's interest as a partner therein, and by a guardian, trustee, committee, conservator, or other fiduciary for any person who would otherwise be entitled to claim such deduction hereunder, but not to property, the title to which is held by a corporation, except that a residential shareholder in a cooperative or mutual housing corporation shall be entitled to claim a deduction he or she is otherwise eligible to receive to the extent of the proportionate share of the taxes assessed against the real property of the corporation, or any other entity holding title, attributable to his or her unit therein.

1. The term "partner or partnership" as used in this subsection refers to the business form and its members, and does not include a civil union partner or couple who are not members of a partnership created by the business formation laws of New Jersey or any other state.

N.J. Admin. Code § 18:14-2.6

Amended by 49 N.J.R. 277(a), effective 2/6/2017