Buyers of foreclosed residential properties might soon be required
to let tenants know their apartments are changing hands, according to a
release.
The New Jersey General Assembly passed legislation on Monday that
strengthens the notification requirements for tenants living in a
foreclosed building.
“Tenant families need the peace of mind that comes from fully
understanding their rights." said Watson Coleman (D-Mercer), the bill's
sponsor, in a statement.
The bill, A-4063, would also force creditors to send a notice to residents.
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