New Jersey Foreclosure Fairness Act
Pursuant to the New Jersey Foreclosure Fairness Act, N.J.S.A. 2A:50-69, et seq. any person
acquiring a foreclosed property containing one or more residential rental units must provide
notices to the tenants in English and Spanish, within 10 business days after the sale, letting
tenants know that ownership has changed hands and that the tenants are not required to move
because of the foreclosure. In buildings with 10 or fewer dwelling units, the new owner must
make a good faith effort to obtain the names of all the tenants occupying the property. Notices
must be addressed to tenants by name, unless the new owner is unable to identify the tenant by
name, then the owner shall address the notice to “Tenant.” The notice must also be placed on the
front door of each tenant’s unit and sent to each tenant via certified and regular mail. (See
Attachment A for a copy of the required, “NOTICE TO TENANTS”)
In a residential property containing more than 10 dwelling units, the new owner must provide
notice to tenants occupying the property by conspicuously displaying a copy of the “NOTICE
TO TENANTS” in a prominent location, such as a common area of the building or other
structure on the property. If there is no common area, the notice must be posted in a conspicuous
location in each building, such as the walls of the front vestibule or any foyer or hallway near the
main entrance of the building. (See Attachment A for a copy of the required, “NOTICE TO
TENANTS”)