Notice Requirements to Tenants Prior to the Transfer of Title Due to a Foreclosure Action
Any written or verbal communication, including a summons and complaint, an initial written or
verbal communication by a foreclosing creditor, or any communication written or verbal that
requests a tenant to vacate the property before the foreclosure or sale of the property, requires the
foreclosing creditor to give notice to the tenants as outlined in the New Jersey Court Rules,
Appx. XXII-K (2010) entitled “Notice to Residential Tenants of Rights During Foreclosure.”
(See Attachment B for a sample of the “Notice to Residential Tenants of Rights During
Foreclosure.”)
Notice Requirements to Tenants After the Transfer of Title Due to a Foreclosure Action
When making a bona fide monetary offer to induce tenants to move, the new owner must provide
a separate and different notice from the notice required to be given by a foreclosing creditor.
The new owner must provide a copy of the “NOTICE TO TENANTS” (Attachment A) and give
it with the initial and final written or verbal offer to the tenant.
Bona Fide Offer
The foreclosing agency, including a bank, creditor, or a new landlord may make a written bona
fide (good faith) monetary offer requesting that the tenant vacate the property, without “good
cause.” An acceptance of the offer by the tenant must be in writing and include an
acknowledgement of the date of the receipt of the offer, and an understanding that the tenant had
a five-day review period to accept or reject the offer presented.