Prohibits ownership of real property in State by adverse foreign governments and certain associated persons.

This bill prohibits New Jersey from allowing ownership of real estate by governments designated as threats by U.S. intelligence assessments (specifically China, Russia, Iran, and North Korea) or their affiliated entities. It bans new acquisitions after the law's effective date, while granting existing owners a five-year grace period to sell their properties to non-prohibited entities. Exceptions include property acquired through debt collection (requiring a two-year sale deadline) or inheritance. Violators face civil penalties up to $250,000 or 50% of the property's market value, with enforcement handled by the Attorney General.