Bill
Bill > A713
NJ A713
NJ A713Requires mortgage lenders to maintain vacant, age-restricted dwelling units during foreclosure.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill places certain obligations on creditors to maintain vacant dwelling units in age-restricted communities during foreclosure. The bill provides that if the owner of a dwelling unit in an age-restricted community vacates or abandons a unit on which a foreclosure proceeding has been initiated or if a unit becomes vacant at any point subsequent to the creditor's filing the summons and complaint in an action to foreclose on a mortgage against the unit, but prior to vesting of title in the creditor or any other third party, a representative of the community may notify the creditor of the vacancy. The creditor, in addition to any other applicable responsibilities under the current provisions of section 17 of P.L.2008, c.127 (C.46:10B-51) with respect to maintaining residential property, would then have the responsibility, in the same manner and to the same extent as the title owner of the unit pursuant to the bylaws, rules, and regulations of the community, to: (1) pay the unit's monthly maintenance fee and the unit's share of any other common expenses of administering, maintaining, or operating the community; and (2) maintain the unit. If the creditor is required to pay any outstanding fees or incurs expenses towards the maintenance of a vacant or abandoned property, the creditor may include these costs in any foreclosure or other action against the title owner. If the creditor, subsequent to receipt of notice from the community, fails to pay the monthly maintenance fee or other common expenses, or fails to maintain the dwelling unit pursuant to the bylaws, rules, and regulations of the community, the community shall have the same recourse against the creditor as it would have against the title owner of the unit pursuant to the bylaws, rules, and regulations of the community. The bill provides that the nonpayment of any condominium or age-restricted community unit's monthly maintenance fee and the unit's share of any other common expenses would be an indicia of vacancy or abandonment under section 1 of P.L.2012, c.70 (C.2A:50-73).
AI Summary
This bill requires mortgage lenders to take responsibility for maintaining vacant or abandoned dwelling units in age-restricted communities during the foreclosure process. If a unit in such a community becomes vacant after foreclosure proceedings begin but before ownership is transferred, a community representative can notify the lender. The lender, in addition to existing responsibilities for property maintenance, must then pay the unit's monthly maintenance fees and its share of common expenses, and maintain the unit according to the community's rules, just as the original owner would have. If the lender fails to do so after being notified, the community can take the same actions against the lender as it could against the unit owner. The bill also clarifies that the non-payment of these fees can be considered evidence of a unit being vacant or abandoned. An "age-restricted community" is defined as one that meets federal requirements for housing for older persons.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly Housing Committee (on 01/13/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/A713 |
| BillText | https://pub.njleg.gov/Bills/2026/A1000/713_I1.HTM |
Loading...