NJ S2145

Creditors are exempt from paying municipal property registration fees when a foreclosed property is included in a Chapter 7 or Chapter 13 federal bankruptcy case and the automatic stay under 11 U.S.C. §362(a) remains in effect.

Amends P.L.2021, c.444 (C.40:48-2.12s3), which currently allows municipalities to charge foreclosing creditors up to $500 annually for registered properties plus an additional $2,000 annually for vacant or abandoned properties.

The exemption applies only while the bankruptcy automatic stay has not been vacated; once lifted, registration fees would resume.

Sponsored by Senators Paul D. Moriarty (District 4) and Benjie E. Wimberly (District 35), pre-filed for introduction in the 2026 New Jersey legislative session.