Concerns expedited process for foreclosing vacant and abandoned residential properties in uncontested actions.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to expedite the foreclosure process for vacant and abandoned residential properties in New Jersey, particularly in uncontested actions. It clarifies the definition of ‘vacant and abandoned’ and outlines specific conditions that a property must meet to be considered such, including overgrown vegetation, utility disconnections, and the absence of furnishings. Furthermore, the bill introduces new provisions to assist common interest communities by allowing them to seek court orders to appoint a fiscal agent for abandoned units and to compel mortgage lenders to pay outstanding association fees.
Bill text
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Sponsors
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1 on record
Primary sponsor
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