The "New Jersey Online Foreclosure Sale Act;" permits online foreclosure sales for real property.

This bill, known as the New Jersey Online Foreclosure Sale Act, allows real estate foreclosure sales in New Jersey to be conducted online instead of in person. It directly affects sheriffs, court officers, and property owners by establishing rules for how these digital auctions must be run. The law requires counties to hire vendors through competitive bidding, mandates that all bids be visible to the public during the auction, and sets a maximum fee of $1,000 per auction. Additionally, the bill requires bidders to verify their identity and provides detailed information about the successful buyer, including checks against federal sanctions lists. The legislation also clarifies that vendor fees are taxable expenses and cannot reduce the standard fees owed to sheriff offices.