If, during a renegotiated rent period, an apartment owner-occupant conveys or transfers the leasehold interest in a residential apartment to another person intending to be an owner-occupant, the renegotiated lease rent for the residential apartment shall be assigned and applied to the new owner-occupant. For the renegotiated lease rent to be so assignable, the new owner-occupant shall execute an affidavit stating that the new owner-occupant intends to occupy the apartment so long as owning the residential apartment.
(1990 Code, Ch. 39, Art. 1, § 39-1.10) (Added by Ord. 91-96)