New Jersey S3942 restricts institutional investors from bidding on or purchasing single-family homes within the first 75 days of being on the market.

New Jersey S3942 prohibits certain institutional investors from bidding on or purchasing single-family homes during the first 75 days they are on the market and available for purchase. Institutional investors must submit an annual report to the Director of the Division of Taxation. Violations of this prohibition are subject to a civil penalty of at least $20,000 per violation, plus fees and expenses.

New Jersey S3942 restricts institutional investors from bidding on or purchasing single-family homes within the first 75 days of being on the market.

New Jersey S3942 prohibits certain institutional investors from bidding on or purchasing single-family homes during the first 75 days they are on the market and available for purchase. Institutional investors must submit an annual report to the Director of the Division of Taxation. Violations of this prohibition are subject to a civil penalty of at least $20,000 per violation, plus fees and expenses.