Restricts purchase of single-family homes by certain institutional investors.
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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 restricts the ability of certain institutional investors, such as partnerships and corporations, to purchase single-family homes in New Jersey during the first 75 days after they are listed for sale. It defines ‘institutional investor’ and outlines exemptions for nonprofit organizations, small investors, and other specific circumstances. The bill requires these investors to report annually on their single-family home acquisitions and carries penalties for violations. The goal is to preserve the availability of single-family homes for local residents.
Bill text
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Document of record
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Sponsors
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3 on record
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Cosponsors
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