New Jersey recently enacted legislation requiring that owners of non-owner occupied residential property taking title as the result of a sheriff’s sale or deed-in-lieu of foreclosure provide notice within 10 business days to the municipality (unless the municipality has previously been provided with notice) and, if applicable, any common interest association of the contact information for the owner or, if the owner is not located in New Jersey, an agent authorized to accept service on the owner’s behalf.
Full text of the legislation is available at:
http://www.njleg.state.nj.us/2010/Bills/A4000/3537_R1.PDF
The information contained in this advisory is summary and is not intended to constitute legal advice on specific matters or create an attorney-client relationship and should not be used to replace the advice of legal counsel.