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NJ A753

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Al Abdelaziz

Click for details

Origin

General Assembly

2026-2027 Regular Session

AI Summary

  • Limits the expedited foreclosure process for vacant and abandoned residential properties to uncontested actions only, where no defendant has filed an answer or defense
  • Requires any defense or objection to expedited foreclosure applications to include an affidavit stating the defense is not solely for delay purposes; objections without this affidavit will not be considered except for good cause
  • Allows common interest community boards (HOAs, condominiums) to file motions compelling mortgage lenders to pay association fees when lenders fail to pursue expedited foreclosure on vacant and abandoned units
  • Authorizes courts to appoint fiscal agents to manage abandoned or unoccupied units within planned real estate developments, with power to license use, collect payments, maintain the property, and pay association fees
  • Specifies that licensees placed by fiscal agents do not receive anti-eviction protections and may be required to vacate with as little as 120 hours notice for any reason

Legislative Description

Concerns expedited process for foreclosing vacant and abandoned residential properties in uncontested actions.

Housing

Last Action

Introduced, Referred to Assembly Housing Committee

1/13/2026

Committee Referrals

Housing1/13/2026

Full Bill Text

No bill text available