Insights
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New Jersey Law Journal published Joy Harmon Sperling and Michael J. Fitzpatrick's article "Creditors Must Maintain Abandoned Property Before Foreclosure Is Completed" in its July 1 issue. The article discussed Assembly Bill A347 signed into law on May 15 by Gov. Chris Christie. The new law, which will become effective July 14, authorizes municipalities to impose penalties on creditors that fail to timely remedy code violations and/or abate nuisances on vacant residential properties in foreclosure, even if the creditor does not own the property and has no intention of taking ownership of it.
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This website may use cookies, pixel tags and other passive tracking technologies, including Google Analytics, to improve functionality and performance. For more information, see our Privacy Policy. By using our website, you are consenting to our use of these tracking technologies. You can alter the configuration of your browser to refuse to accept cookies, but if you do so, it is possible that some areas of web sites that use cookies will not function properly when you view them. To learn more about how to delete and manage cookies, refer to the support instructions for each browser (e.g., see AllAboutCookies.org). You may locate Google Analytics' currently available opt-outs for the web here.