NJ A3338

Reduces the time period a property must be legally unoccupied before a municipality can designate it as abandoned from six months to three months

Shortens the deadline for property owners, mortgage holders, or lien holders to submit rehabilitation plans or apply for funding from six months to three months before failure is presumed

Requires tax sale certificate holders to initiate foreclosure proceedings within three months (down from six months) after the property becomes eligible for foreclosure to avoid placement on the abandoned property list

Amends the "Abandoned Properties Rehabilitation Act" (P.L.2003, c.210) to accelerate the rehabilitation process for properties that are unoccupied, in need of repair, have unpaid taxes, or are deemed nuisances

Takes effect on the first day of the fourth month following enactment