Bill
Bill > A720
summary
Introduced
01/11/2022
01/11/2022
In Committee
01/11/2022
01/11/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Prohibits seller of real estate to transfer realty transfer fee liability to buyer.
AI Summary
This bill prohibits the seller of real estate from transferring the realty transfer fee liability to the buyer. The realty transfer fee is a tax imposed on the grantor (seller) of real estate pursuant to existing New Jersey law. If the seller violates this prohibition, the buyer can bring a private legal action against the seller to recover the transfer fee payment plus an additional $1,000 and the buyer's reasonable legal expenses. The bill will take effect on the first day of the third month following its enactment.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly Community Development and Affairs Committee (on 01/11/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A720 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A1000/720_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A1000/720_I1.PDF |
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