new jersey abandoned property list

The unclaimed property law is set forth in Title 46 of the New Jersey Statutes at N.J.S.A. Local governments can enlist a variety of means to supplement the work of their own crews, including using involuntary labor such as minimum-security inmates or individuals required to perform community service by the courts and voluntary labor from youth groups and neighborhood organizations. The latter could be a particularly serious problem with respect to buildings planned for office or retail use, where grant funds are in extremely short supply. Having a regular schedule for adding properties to the list enables the public officer to be responsive to citizen requests, while avoiding placing undue burdens on that official. (If the municipality requires prospective bidders to submit a timetable for rehabilitation or reuse of properties, it must be sensitive to the fact that the bidder must carry out the foreclosure process before beginning rehabilitation. The Official Web Site for The State of New Jersey Vacant property receivership/possession Spot blight eminent domain Where the goal is to foster acquisition and rehabilitation of scattered abandoned properties by individuals and families for home ownership, the critical tools are those that ensure that the properties can be conveyed to those households in the most cost-effective (both to the city and the buyer) and user-friendly manner. Management systems There are few areas in local government where it is more important to have a good computer-based management and information systems than with respect to the maintenance of vacant property. It can identify two critical red flag issues which, if present, may suggest that caution be exercised: Funds, either in the amount needed or on the terms needed to make the project feasible, may not be available, or their timing may be too uncertain; or Although funds may be available, the selling price or cash flow after rehabilitation may appear inadequate to repay or carry the cost of rehabilitation, given the terms on which funds are likely to be available. To that end, the law permits the municipality to create bid packages containing more than one property. As defined by the NJ Department of Treasury Unclaimed Property Administration: "Unclaimed property consists of many types of intangible and tangible properties that have been unclaimed by its rightful owner for a specific period of time. In a municipality with a large number of abandoned properties, a complete list is a practical impossibility. Eminent domain under New Jerseys quick-take rules is a relatively speedy process, and can take less than 6 months from the initial negotiations with the owner to the point where the municipality has title. 17 of the act. The owner demonstrates to the satisfaction of the public officer that the conditions that led to the property being put on the abandoned property list have been remedied in fullThe owner initiates work to remedy the conditions. Many buildings will ultimately have to be demolished, either because they have less reuse value as buildings than as vacant land, because they have become an imminent hazard, or because their nuisance impact on the neighborhood cannot be mitigated through other means. The sale must still be at fair market value, as determined by an appraisal or other procedure approved by the court. The less standardized the product, and the weaker the market, the less reliable the appraisal. Tax foreclosure, however, is not a speedy procedure. In some cases, the holding period may be a matter of days or weeks, but in other cases it may be years. While the law does not provide a specific timeframe for the owner to act, it calls for the judge to impose specific time frames on the owner, in order to ensure the expeditious rehabilitation of the property (N.J.S.A.55:19-97(c)). If an address cannot be obtained for an owner of record, notice must be posted on the property. If the inventory contains a substantial number of vacant lots, a reliable, full-time maintenance crew is likely to be necessary. National Night Out 500 Pemberton Browns Mills Rd. In addition, since there are different abandonment triggers affecting different property types, identifying those types may also help identify specific conditions that may be leading to abandonment, as illustrated in Table 6.1 The presence of numerous abandoned single family homes, for example, may be an indicator of foreclosure associated with predatory lending or home repair schemes. Owner fails to make entity whole, or fails to provide assurances for completion of rehab and productive use of property Owner or lienholder rehabilitates property and restores to productive use Court rejects owner or lien-holder plan Court grants possession to entity bringing complaint Entity in possession initiates rehabilitation of property Entity in possession files Notice of Completion Owner makes entity whole, regains control of property and (if necessary) completes rehabilitation. This provision is designed to help keep the rehabilitation or reuse process on track, by making it unnecessary for the municipality to either hold a new tax sale, or assign the certificates without imposing the qualifications and requirements of the special tax sale. In the absence of a municipal abandoned property list, the public officer is required to provide a tax lien holder with a certification that the property meets the abandoned property criteria of the Act for purposes of this section. 2 Findings The findings set forth the need for action with respect to blighted residential property, including the fact that such properties are a public safety threat and a nuisance, affecting not only those who live in them, but also diminishing health, public safety and property values in the neighbor-hoods in which they are located; further, that such buildings are at risk of abandonment, which results in loss of affordable housing, endangering neighborhood residents, and imposing costs on municipalities in which they are located. ADDITIONAL INFORMATION Enter any additional information relevant to the status of the abandoned property that does not appear above (attach additional sheets if necessary): __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ APPENDIX 6 MODEL AFFIDAVIT FOR PUBLIC OFFICER ON BEHALF OF TAX LIEN PURCHASER OF ABANDONED PROPERTY CAPTION I, [NAME OF PUBLIC OFFICER], of full age, being duly sworn, upon my oath deposes and states: 1. Delays in the court process involving tax foreclosure are common. The municipality must then use the cash or bond, along with accrued interest, either to rehabilitate or demolish the property, or where appropriate, conduct environmental remediation. 7 Notice to limited partners If the HMFA finds that the building is owned by a limited partnership established pursuant to any program under which the HMFA has regulatory control, including the Federal Low Income Tax Credit program, it shall notify the limited partners, which have the same rights and remedies as lienholders in the receivership action. New Jersey Division of Pensions & Benefits (NJDPB) SUBJECT: Important Information - Contacting the NJDPB . The receiver can borrow funds from public or private sources to operate or improve the property. Criterion (e), however, deals with the effect of the appearance or condition of the property on the welfare, including the economic welfare, of residents living in close proximity to an abandoned building. The public officer decides the appeal and provides notice of the decision, REMOVING A PROPERTY FROM THE ABANDONED PROPERTY LIST, The owner demonstrates to the satisfaction of the public officer that the conditions that led to the property being put on the abandoned property list have been remedied in full, If an owner pays all taxes and municipal liens, including interest and penalties, on the property and posts cash or a bond in an amount which the public officer finds adequate to remediate all of the conditions that led to the property being placed on the abandoned property list, the property is removed from the list. Qualified entities include CDCs as well as experienced for-profit developers active in the community. Where the borrowing is needed for the purpose of improving the property, and where the senior lienholder has refused either to provide additional financing or to subordinate, the court may authorize the receiver to secure the debt by a lien on the property, which may take priority over other liens and mortgages except municipal liens. Once this information has been assembled for all of the properties, the public officer must then comply with the notice requirements of the law. Finally, the presence of abandoned properties, particularly in large numbers, undermines the wellbeing of the community as a whole. 30 Amendments to Balanced Housing Program The Balanced Housing Program statute is amended to provide the Program with clear authority to make grants and loans to receivers, as well as to provide that DCA shall not require income certification of tenants or deed restrictions regarding low and moderate income occupancy as a condition of providing BHP funds for moderate rehabilitation of multifamily rental buildings where the project (1) contains 30 or fewer units, and (2) is located in a Census tract in which the median household income is 60 percent or less of the area median income. Properties in areas where a neighborhood revitalization plan has been approved by the Department of Community Affairs pursuant to N.J.S.A.52:27D-490 et seq., or in which a CDC is working in partnership with the city to develop such a plan. While the public officer can be any officer, officers, board or body of the municipality, given the nature of the public officers duties, the municipality will probably find it more efficient to designate a specific officer to serve in that role, rather than a board or agency. Step 6: The public officer places a lien on the property for the cost of the action. 4(b) are of a minor nature, the court may dismiss the complaint. Once the entity has filed the Notice of Completion, the owner has 30 days to file a petition to be reinstated in control and possession of the property. 5:43-5.4) Establishing rules governing minimum insurance coverage and surety bonding for receivers (N.J.A.C. ic officers determination that the property is abandoned based on the statutory definition of abandoned property, with documentation for the finding. When looking at properties eligible for special tax sale with an eye toward rehabilitation or redevelopment, the municipality may determine that some properties should be rehabilitated or reused as a package. 3.1 Tax Foreclosure Tax foreclosure, particularly in municipalities where property values are low and many owners see no compelling reason to continue to pay taxes on vacant or substandard properties, is the means by which most abandoned properties fall into a municipalitys hands. (If the holder of the certificate, however, does not then or subsequently provide the public officer with documentation that she has initiated and is diligently pursuing foreclosure proceedings on the property within six months after the property was first placed on the list, the public officer must restore the property to the list. Such entities are: Permitted to foreclose at any time, rather than waiting two years; Granted right of entry to make repairs or abate nuisance conditions; and Permitted to add the cost of such repairs to the balance due for redemption. Where the number of abandoned properties is large relative to the resources available, the city may have to plan on a long-term strategy, or focus initially on a limited number of areas. (a) Creating the initial list. Legal tools. 18 Fees The receiver is entitled to reasonable fees. All of these liens are known as priority liens, because they have priority under the law over other liens, such as mortgages and judgments. For that reason, whenever the public officer issues an order to an owner, she must recognize that there is a significant likelihood that she may have to act to remedy the nuisance. By identifying tax lien holders and the amounts of the liens, for example, a CDC may be able to frame a cost-effective way to gain control of the property. 13 Han, supra note 5, at 9. . to be entered in real time or nearly so. For further information, go to HYPERLINK "http://www.pennsylvaniahorticulturalsociety.org" www.pennsylvaniahorticulturalsociety.org. Since more information is already available on the generally applicable procedures, the latter are described in greater detail. -Read Full Disclaimer. All too often, in this situation the public officer will routinely have the building vacated, if occupied, or demolished, if vacant, and will not seriously investigate the feasibility of having the building repaired or improved. Removal from abandoned property list; conditions . (Although the statute does not explicitly address the point, there appears to be no reason that parties other than the owner and parties in interest cannot participate in the hearing, which is not bound by court rules of evidence. STEP 2: CREATING THE LISTOnce the ordinance has been enacted, a specific procedure to create the abandoned property list must be followed. The Kaitzs looked instead to Mexico, where surrogacy would cost them about $65,000 almost as much as Sam's annual salary as a high school math teacher, but still far less than the $100,000 . What must an owner do to regain control of the property? The price can be more, or less, than fair market value. The owner is not relieved by a receivership action of any criminal or civil liability resulting from any act or omissions of the owner. Although possession is a valuable tool, it is a targeted remedy designed to trigger rehabilitation of a property either by its owner or by the municipality or its designee and should not be seen as a route by which one will necessarily gain title to a particular property. This section provides detailed information on how those tools can be used to gain control of abandoned properties. This information must be gathered both for purposes of identification and to address the notice requirements of the law. Properties that have been the subject of complaints to the municipality The public officer has the discretion to determine at what point to cut off the process of creating the initial list, particularly as properties can easily be added to the list later.

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