Credit: Terrance Emerson / stock.adobe.com Revision to the Tax Sale Law; Protection for Distressed Homeowners
Thanks to the most recent amendment to the Tax Sale Law, distressed property owners will no longer be deceived into believing that their only option is to sell their property to a title raider far below fair market value.
July 18, 2022 at 10:00 AM
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The June 6, 2022, edition of the New Jersey Law Journal contained an article titled "Revision to the Tax Sale Law; Tragedy for Distressed Homeowners." I respectfully disagree with the conclusions of the authors and wish to provide another view. The article improperly indicates that A5142 and the revision to N.J.S.A. 54:5-89.1 is going to harm distressed property owners being foreclosed. As set forth in the committee statement, the bill actually protects individuals from excessively low offers.
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