Bill

Bill > S1987


NJ S1987

NJ S1987
Allows termination of motor vehicle lease in event of death; prohibits imposition of fee for early termination.


summary

Introduced
04/18/2016
In Committee
04/18/2016
Crossed Over
Passed
Dead
01/08/2018

Introduced Session

2016-2017 Regular Session

Bill Summary

This bill allows a motor vehicle lease to be terminated upon the death of the lessee and prohibits a dealer or lessor from imposing or assessing any fee for the termination of the lease. In addition, the bill prohibits a lease from requiring, in the event of a lessee's death, that the decedent's surviving spouse, family member, guardian, or estate administrator or executor purchase the leased motor vehicle, buy out the remainder of the lease, or continue to lease the motor vehicle under the original terms of the lease. Finally, the bill requires a surviving spouse, family member, guardian, or estate administrator or executor to provide a death certificate or other satisfactory proof of the lessee's death to the dealer or lessor within 60 days after the death of the decedent in order to have a lease terminated under the provisions of this bill.

AI Summary

This bill allows a motor vehicle lease to be terminated upon the death of the lessee and prohibits a dealer or lessor from imposing any fee for the early termination of the lease. It also prohibits a lease from requiring the decedent's surviving spouse, family member, guardian, or estate administrator or executor to purchase the leased vehicle, buy out the remainder of the lease, or continue leasing the vehicle under the original terms. The bill requires the surviving spouse, family member, guardian, or estate administrator or executor to provide a death certificate or other proof of the lessee's death to the dealer or lessor within 60 days to have the lease terminated.

Committee Categories

Business and Industry

Sponsors (2)

Last Action

Introduced in the Senate, Referred to Senate Commerce Committee (on 04/18/2016)

bill text


bill summary

Loading...

bill summary

Loading...
Loading...