Bill > S3945

This bill, the "New Jersey Online Foreclosure Sale Act," permits online foreclosure sales for real property. The key provisions are: 1. It allows sheriffs or other authorized officers to enter into contracts with vendors to conduct electronic, online foreclosure sales of real estate, with requirements around the contract terms, vendor qualifications, and transparency of the auction process. 2. It amends existing law to allow for online publication of the foreclosure sale notice in addition to the traditional print publication requirements. 3. It provides an alternative to the traditional in-person foreclosure sale process, allowing authorized officers to conduct the sale entirely online through electronic auction. The bill aims to facilitate the use of online platforms for foreclosure sales in New Jersey, which may improve accessibility and transparency for these transactions.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2022/S3945