Bill > A985

Introduced Session

This bill encourages purchasers of residential real property to record deeds in a timely fashion. Under the bill, a purchaser that submits a residential deed to the county for recording more than 90 days after the delivery date of the deed will be charged a late filing fee of $10 a day for each day thereafter, up to a cumulative total of $500. The bill would allow an extension of the deed delivery deadline if the county recording office is closed on the final day before the late filing fee is initiated. A late fee would not be imposed on State entities. A late fee would not be imposed if a delay in the delivery of a deed is the result of the deed being held in escrow. If failure to deliver a deed to the county recording officer within the time required is the fault of an agent or someone other than the grantee, then the late filing fee would be imposed upon the agent or other person and not passed through to the grantee. The bill dedicates the proceeds of these late filing fees to combatting homelessness.

AI Summary

Committee Categories

Verlina Reynolds-Jackson (D)*,  Anthony Verrelli (D)*, 

Introduced, Referred to Assembly Housing Committee (on 01/11/2022)

Official Document