NJ S65

Mortgage creditors become responsible for paying monthly maintenance fees and other common expenses for vacant or abandoned dwelling units in age-restricted communities once the community notifies them of the vacancy during foreclosure proceedings.

Creditors must maintain vacant age-restricted units to the same standards as title owners under the community's bylaws, rules, and regulations until title transfers to the creditor or third party.

Age-restricted communities may pursue the same legal recourse against creditors who fail to pay fees or maintain units as they would against the actual property owner.

Creditors may recover maintenance expenses and fees paid on vacant properties from the title owner through the foreclosure action or other legal proceedings.

Nonpayment of condominium or age-restricted community maintenance fees is added as an indicator that a property qualifies as "vacant and abandoned" for summary foreclosure proceedings.