New Jersey S4476 revises the tax lien foreclosure process to ensure surplus equity is returned to property owners and mandates a guardian ad litem.
New Jersey S4476 amends the tax lien foreclosure process to require the return of any surplus equity to the property owner or their heirs following a judicial sale or Internet auction. This change ensures that property owners receive any remaining equity after foreclosure costs are deducted. Additionally, the bill mandates the appointment of a guardian ad litem for individuals under 18, those with intellectual disabilities, or those adjudicated incapacitated and in need of guardianship, if they reside in the property being foreclosed.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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