Sponsored by:
Senator TROY SINGLETON
District 7 (Burlington)
Senator STEVEN V. OROHO
District 24 (Morris, Sussex and Warren)
Senator DAWN MARIE ADDIEGO
District 8 (Atlantic, Burlington and Camden)
SYNOPSIS
Requires DCA to produce and maintain database and interactive map concerning residential properties under foreclosure; increases certain recording fees as funding mechanism.
CURRENT VERSION OF TEXT
As reported by the Senate Community and Urban Affairs Committee on February 7, 2019, with amendments.
An Act concerning residential properties under foreclosure, supplementing P.L.2008, c.127 (C.55:14K-82 et al.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. The Department of Community Affairs shall produce a database with an interactive mapping component which details, and provides a graphic representation to allow the department to visualize, the extent to which residential properties in this State are under foreclosure pursuant to the “Fair Foreclosure Act,” P.L.1995, c.244 (C.2A:50-53 et seq.). The department shall develop, maintain, and update the database 1[in real time]1 based upon information submitted to the department by, and in cooperation with, 1the county clerks, the county registers of deeds and mortgages, the county sheriffs, and1 the Administrative Office of the Courts pursuant to section 2 of 1[this act] P.L. , c. (C. ) (pending before the Legislature as this bill)1, and information obtained from any other public sources.
b. The database shall contain, and the map shall represent:
(1) The location of each residential property under foreclosure by county, municipality, lot and block number;
(2) the current owner of record;
(3) the date 1[that]1 the 1[notice of intention to foreclose] lis pendens1 is filed;
(4) the date the foreclosure complaint is filed;
(5) the date of judgment of foreclosure; and
(6) the date of any deed transfer pursuant to a sheriff’s sale and the name of the purchaser.
1c. The Commissioner of Community Affairs may adopt rules and regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to effectuate the provisions of P.L. , c. (C. ) (pending before the Legislature as this bill).1
2. The 1county clerks, the county registers of deeds and mortgages, the county sheriffs, and the1 Administrative Office of the Courts shall 1, as appropriate,1 provide the Department of Community Affairs with as much of the information listed in subsection b. of section 1 of 1[this act] P.L. , c. (C. ) (pending before the Legislature as this bill)1 with respect to 1[the] residential1 property 1under foreclosure1 as is reasonably available from records maintained by, or accessible to, the 1[office] offices1. The information shall be provided 1[in real time] daily1 in 1[a] an electronic1 format 1[, electronic or otherwise,]1 as is useful to the department to develop, maintain 1,1 and update the database and map required by section 1 of 1[this act] P.L. , c. (C. ) (pending before the Legislature as this bill)1.
3. As of the effective date of 1[this act] P.L. , c. (C. ) (pending before the Legislature as this bill)1, the revenue from additional fees for recording deeds and lis pendens fees collected by county clerks and registers of deeds and mortgages and received by the Department of Community Affairs, pursuant to 1[subsection b. of section 2 of P.L.1965, c.123 (C.22A:4-4.1)] section 4 of P.L. , c. (C. ) (pending before the Legislature as this bill)1, shall be deposited into a separate fund within the department and shall only be used by the department for the purpose of developing, maintaining, and updating the database 1and map1 created pursuant to section 1 of 1[this act] P.L. , c. (C. ) (pending before the Legislature as this bill)1.
4. In addition to each fee for the recording of a deed or a lis pendens collected by county clerks and registers of deeds and mortgages pursuant to section 2 of P.L.1965, c.123 (C.22A:4-4.1) and any other rule, regulation, or law, an amount of $30 shall be collected by the county clerks and registers of deeds and mortgages on the recording of each deed or lis pendens. The revenues obtained from these increased amounts, after deduction of any actual administrative costs incurred by county clerks 1[and] , county1 registers of deeds and mortgages 1, and county sheriffs1 in carrying out the provisions of 1[this subsection] P.L. , c. (C. ) (pending before the Legislature as this bill)1, shall be transmitted quarterly by the 1[office of the]1 county 1[clerk or register of deeds and mortgages, as appropriate,]1 to the Department of Community Affairs for the purposes set forth in sections 1 through 3 of 1[this act] P.L. , c. (C. ) (pending before the Legislature as this bill)1.
5. This act shall take effect on the first day of the seventh month next following the date of enactment 1, but the Commissioner of Community Affairs may take such anticipatory administrative action in advance thereof as shall be necessary for the implementation of this act1.