S.B. No. 212 Summary

• Reduces online judicial sale auction bidding periods from seven calendar days to three calendar days for both residential and commercial properties.

• Allows subsequent auctions for unsold residential properties in mortgage foreclosure actions to be held as soon as three days (instead of seven) after the previous auction, without minimum bid requirements.

• Changes property appraisal requirements to use the county auditor's most recent appraised value instead of requiring new appraisals by freeholders in most cases.

• Modifies notice requirements for judicial sales to allow online advertisement for subsequent sales of unsold properties, as an alternative to newspaper publication.

• Updates the official public sheriff sale website and auction management system to require a minimum three-day bidding period for online auctions instead of seven calendar days.