Bill Text: NJ A4780 | 2022-2023 | Regular Session | Introduced

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Bill Title: Requires payment of fair market value to owners of unused interment space seeking to transfer ownership back to cemetery from which space was purchased.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-10-17 - Introduced, Referred to Assembly Regulated Professions Committee [A4780 Detail]

Download: New_Jersey-2022-A4780-Introduced.html

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ASSEMBLY, No. 4780

STATE OF NEW JERSEY

220th LEGISLATURE

 

INTRODUCED OCTOBER 17, 2022

 

 

Sponsored by:

Assemblyman  JOHN CATALANO

District 10 (Ocean)

 

 

 

 

SYNOPSIS

     Requires payment of fair market value to owners of unused interment space seeking to transfer ownership back to cemetery from which space was purchased.

 

CURRENT VERSION OF TEXT

     As introduced.

  

An Act concerning the transfer of unused interment spaces and supplementing P.L.2003, c.231 (C.45:27-1 et seq.).

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    a. The owner of an unused interment space or of an interest in one who did not purchase the interment space or the interest in one for the sole purpose of resale pursuant to section 32 of P.L.2003, c.261 (C.45:27-32) and who seeks to transfer ownership of the interment space or interest in one to the cemetery from which the space was purchased shall receive fair market value for the interment space from the cemetery upon transfer.

     b.    A transfer of an unused interment space or interest in one pursuant to subsection a. of this section shall be recorded by the cemetery in receipt of the space.

     c.     The provision of subsection a. of this section shall, in no way, interfere with reasonable restrictions in place on the transfer of an interment space pursuant to paragraph (1) of subsection a. of section 28 of P.L.2003, c.261 (C.45:27-28).

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill requires the fair market value to be paid by cemeteries for unused interment space if the owner of an unused interment space or of an interest in one did not purchase the interment space or interest for the sole purpose of resale and seeks to transfer ownership of the interment space or interest in one to the cemetery from which the space was purchased. The transfer of an unused interment space or interest is to be recorded by the cemetery who purchased back the space. The provisions of the bill are in no way intended to interfere with reasonable restrictions in place on the transfer of an interment space pursuant to current law.