Eliminates general purpose, supplemental, and mansion realty transfer fees in New Jersey.
The bill eliminates three realty transfer fees in New Jersey: the supplemental fee, the general purpose fee, and the mansion fee. These fees were established in 2003 and 2004 and apply to sellers and buyers of real property. The elimination of these fees aims to reduce costs for New Jerseyans involved in real property transactions and address concerns about the fees being an abuse of legitimate fee processes. The bill also repeals relevant sections of the statutory law.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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