Vote Smart's Synopsis:

Vote to pass a bill that restructures the property tax process including the right to foreclosures and remaining equity in New Jersey.

Highlights:

• Prohibits the government from claiming the surplus from equity that comes from the sale of a foreclosed property, and reimburses it to the owner (Pg. 7).

• Authorizes property owners to preserve equity by requesting a judicial sale of the property (Pg. 7).

• Specifies that the money paid back to the owner is adjusted after costs for the judicial sale have been paid (Pg. 9).

Full Bill Text