Bill > S1038

Introduced Session

This bill establishes requirements to be followed by short-term resellers, as defined in the bill, to ensure necessary precautions are taken if work is performed on houses intended to be resold within a year of purchase. After the sale of a single-family home by a short-term reseller to the buyer, the reseller is to be required to retain the greater of five percent of the sale price or $10,000 in escrow, for four months following the sale, which would be used to reimburse the buyer for damages arising from certain alterations not performed in accordance with the requirements of the UCC. The bill requires a short-term reseller to complete a property condition disclosure statement to inform a potential buyer of the condition of a single-family home prior to the sale of the home, and attest that the short-term reseller occupied the single-family home as the short-term reseller's primary residence while the work was being performed. This provision is to apply to any short-term reseller who performs plumbing, electrical, heating, ventilation, and air conditioning services on a single-family home, for which a permit is taken under a certification in lieu of oath pursuant to the UCC. In addition to any other penalties provided by law, if it is determined that the certification in lieu of oath was falsely attested to, the short-term reseller would be subject to the penalties provided by subsection e. of section 12 of P.L.1978, c.73 (C.45:1-25). Additionally, the bill requires the Department of Community Affairs to develop and undertake a public education program designed to inform New Jersey residents of the provisions of the bill.

Committee Categories

Linda Greenstein (D)*,  Parker Space (R)*, 

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/09/2024)

Official Document