S.577

New Jersey S577 allows early termination of motor vehicle leases upon the lessee's death and prohibits fees for such terminations.

New Jersey S577 allows a motor vehicle lease to be terminated early upon the lessee's death, provided the vehicle was leased and registered in the state. A surviving spouse, family member, guardian, or estate administrator must provide proof of death within 60 days. The lease terminates upon vehicle return. The bill prohibits fees for early termination due to death but allows fees for excess wear or mileage if specified in the lease. It also mandates disclosure of early termination rights in lease contracts.