A 3248
Prohibits certain institutional investors from purchasing or acquiring single-family homes.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill prohibits certain institutional investors, such as partnerships and corporations, from purchasing or acquiring single-family homes in New Jersey. It defines ‘institutional investor’ and includes exceptions for nonprofits providing affordable housing, family trusts, and small investors. The bill also requires annual reporting of acquisitions and establishes penalties for violations, aiming to address concerns about the impact of institutional investment on the local housing market.
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