New Jersey S1785 allows the State Real Estate Appraiser Board to penalize appraisers or companies found guilty of discriminatory appraisals based on.
New Jersey S1785 empowers the State Real Estate Appraiser Board to revoke, suspend, or fine appraisers or appraisal management companies found to have knowingly engaged in discriminatory appraisals of residential properties based on the race or national origin of the property buyer or holder. The board must notify the holder of the reasons for any action and provide an opportunity for a hearing under the Administrative Procedure Act. This act aims to prevent discriminatory practices in real estate appraisals.
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- Legal Framework
- Critical Issues
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