New Jersey law

Real Estate Laws in New Jersey.

New Jersey real estate practice covers deeds, title, residential seller disclosures, homestead, and foreclosure. New Jersey is a JUDICIAL foreclosure state — all mortgage foreclosures must proceed through Superior Court. New Jersey foreclosure timelines are among the longest in the country (often 3+ years). The Fair Foreclosure Act (N.J.S.A. 2A:50-53) and mandatory mediation under N.J. Court Rule 4:64 provide debtor protections. New Jersey imposes a Realty Transfer Fee (RTF) with Mansion Tax of 1% on residential transactions over $1 million. Property taxes in New Jersey are the highest in the nation by effective rate.

Last verified: 2026-04-17

State law

Key New Jersey Statutes

Judicial Foreclosure (Fair Foreclosure Act)N.J.S.A. 2A:50-53 et seq.

All mortgage foreclosures proceed through the Superior Court Chancery Division. Requires pre-action notice (NOI), 30-day cure period, filing of complaint, service, and judgment before sheriff's sale. Mandatory Foreclosure Mediation under Rule 4:64.

Right of RedemptionN.J.S.A. 2A:50-15

The borrower may redeem the property by paying the full debt plus costs any time before the sheriff's sale, and under certain circumstances for 10 days after.

Realty Transfer FeeN.J.S.A. 46:15-5 et seq.

Transfer fee on deeds ranging from 0.4% to 1.21% depending on consideration amount and property type.

Mansion TaxN.J.S.A. 46:15-7.2

Additional 1% tax (paid by buyer) on residential real-estate transactions over $1 million.

Construction Lien LawN.J.S.A. 2A:44A-1 et seq.

Contractors, subcontractors, and suppliers may file liens against improved real property. Filing deadline: 90 days from last furnishing (60 days for residential).

Property TaxN.J.S.A. Title 54

Property taxes are the highest in the U.S. by effective rate. Assessment-based system with statewide equalization (Director's Ratio).

Recording Priority (Race-Notice)N.J.S.A. 46:26A-12

New Jersey is a race-notice state: a subsequent bona fide purchaser for value without notice who records first prevails over an earlier unrecorded conveyance.

State law

Official Sources

New Jersey Legislature NJ Division of Taxation

Not Legal Advice

This page summarizes publicly available statutes and rules for informational purposes only. It does not constitute legal advice, and no attorney-client relationship is created by viewing this content. Laws change — always verify with the primary source or consult a licensed attorney in New Jersey.

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Real Estate Laws in New Jersey.

Key New Jersey Statutes

Official Sources

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