Prudential Insurance Co. of America v. Guttenberg Rent Control Board

The opinion of the court was delivered by

LANDAU, J.S.C.

(temporarily assigned).

This appeal tests whether the entire lump sum payment after death of a public sector pensioner should be considered as part of annual income for the purposes of determining whether the beneficiary, a senior citizen tenant, may be granted protected status from a condominium conversion plan under N.J.S.A. 2A:18-61.24(c) and N.J.A.C. 5:24-2.3(c). We conclude that the entire lump sum should not be considered for purposes of such income determination, and accordingly, reverse the trial court’s contrary holding, but…