Bill
Bill > S3537
NJ S3537
NJ S3537Establishes certain requirements if purchasing and reselling same single-family home within one year of receiving certificate of occupancy.
summary
Introduced
02/19/2026
02/19/2026
In Committee
02/19/2026
02/19/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
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.
AI Summary
This bill establishes new requirements for "short-term resellers," defined as individuals or entities who purchase a single-family home, renovate it, and then offer it for resale within one year of receiving a certificate of occupancy, which is an official document confirming a building's compliance with construction codes. Specifically, after selling such a home, the short-term reseller must hold in escrow the greater of five percent of the sale price or $10,000 for four months to cover potential buyer damages from alterations to plumbing, electrical, or heating, ventilation, and air conditioning (HVAC) systems that were not done according to the State Uniform Construction Code (UCC). The bill also mandates that short-term resellers provide buyers with a property condition disclosure statement detailing the home's state and must attest that they lived in the home as their primary residence while performing these renovations, especially if permits were obtained using a certification in lieu of oath under the UCC; falsely attesting to this can lead to penalties. Furthermore, the Department of Community Affairs will launch a public education campaign to inform residents about these new regulations.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 02/19/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S3537 |
| BillText | https://pub.njleg.gov/Bills/2026/S4000/3537_I1.HTM |
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