Revises tax lien foreclosure process to require return of surplus equity in all circumstances, requires appointment of guardian ad litem for certain persons during foreclosure proceeding.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill amends New Jersey’s tax lien foreclosure process to ensure that any surplus equity remaining in a property after a foreclosure sale is returned to the property owner or their heirs. It also mandates the appointment of a guardian ad litem for certain individuals, such as minors or those with disabilities, during the foreclosure proceedings. The bill aims to prevent tax sale certificate holders from retaining equity that rightfully belongs to property owners and provides additional protections for vulnerable individuals involved in the process.
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