New Jersey S2334 revises the process for property tax lien holders to foreclose the right to redeem a property tax lien, allowing property owners to.

New Jersey S2334 amends the state's property tax lien foreclosure laws to align with a recent U.S. Supreme Court decision. It allows property owners to request a judicial sale or internet auction to preserve their equity. If the property owner does not request such a sale, the lien holder can foreclose without one. The bill also ensures that any surplus funds from the sale are used to cover administrative costs and attorney fees before being distributed to the property owner or other lien holders. The changes apply to foreclosure complaints filed after May 25, 2023.

New Jersey S2334 revises the process for property tax lien holders to foreclose the right to redeem a property tax lien, allowing property owners to.

New Jersey S2334 amends the state's property tax lien foreclosure laws to align with a recent U.S. Supreme Court decision. It allows property owners to request a judicial sale or internet auction to preserve their equity. If the property owner does not request such a sale, the lien holder can foreclose without one. The bill also ensures that any surplus funds from the sale are used to cover administrative costs and attorney fees before being distributed to the property owner or other lien holders. The changes apply to foreclosure complaints filed after May 25, 2023.