Prohibits seller of real estate to transfer realty transfer fee liability to buyer.
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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 prevents sellers of real estate in New Jersey from requiring buyers to pay the realty transfer fee, which is currently mandated to be paid by the seller. If a seller does transfer this liability to the buyer, the buyer can sue the seller to recover the transfer fee paid, plus $1,000 and their legal expenses. The bill clarifies that the responsibility for paying the realty transfer fee always rests with the seller, correcting a common practice of including this fee in real estate contracts.
Bill text
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Document of record
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1 on record
Primary sponsor
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