NJ A2657

Protects homeowners whose principal residence is subject to tax lien foreclosure by preventing courts from transferring property ownership directly to the tax lien purchaser

Requires county sheriffs to conduct an Internet auction of the property instead of awarding title to the lien holder when foreclosing on someone's primary residence

Mandates that auction proceeds first reimburse the tax lien purchaser for property taxes paid plus interest and foreclosure costs, then pay off municipal liens, then cover sheriff auction costs

Requires the sheriff to forward any remaining auction proceeds to the former homeowner within 14 days, allowing them to retain their home equity for future housing

Applies to tax sale certificates held by private purchasers (not municipalities), who must wait two years from the date of sale before initiating foreclosure proceedings