NJ S577

Allows early termination of a motor vehicle lease upon the lessee's death without any early termination fee, though dealers may still charge for excess wear, use, or mileage as specified in the lease agreement.

Prohibits lease agreements from requiring surviving spouses, family members, guardians, or estate administrators to purchase the vehicle, buy out the lease, or continue the lease under original terms.

Requires a death certificate or satisfactory proof of death to be provided to the dealer or lessor within 60 days of the lessee's death, with the lease terminating upon return of the vehicle.

Mandates dealers and lessors include written disclosure in lease contracts about the early termination right upon death, with a $500 penalty for failing to provide this disclosure.

Does not apply to commercial vehicles or to surviving co-lessees who signed the original lease agreement.