Bill > A2080

This bill amends New Jersey's "tax sale law" to provide additional protections for homeowners facing tax foreclosure. The key provisions are: 1. Allows holders of tax sale certificates on abandoned properties to file an action with the Superior Court to bar the right of redemption at any time, rather than having to wait two years as required for non-abandoned properties. 2. Permits tax sale certificate holders to enter abandoned properties to make repairs or address harmful conditions, with the costs added to the unpaid balance owed. 3. Requires the Superior Court, when foreclosing on the principal residence of a defendant, to order the sheriff to hold an Internet auction of the property instead of vesting absolute ownership in the tax sale certificate holder. The proceeds from the auction are first used to reimburse the certificate holder for taxes paid and costs incurred, with any remaining funds going to the defendant.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2022/A2080