CAI-NJ Sep.2016

HML-4488 construction ad mech02.qxp_1/2 pg vertical 9/17/15 4:14 PM Page 1

ued into this current legislative session. The Senate version has already suc- cessfully cleared the Community and Urban Affairs Committee, and has been referred to the Budget Committee (a necessary step in the process). While the mortgage banking lobby has expressed some concerns with the bills, the NJ‑LAC has been in dis- cussions with that group and are hopeful of an agreement on the final language. It is expected that these bills will be finalized and voted on by the full chambers of the New Jersey Legislature, then sent to the Governor’s desk, before the end of this year. This needed reform in the foreclosure process can’t come soon enough for most community associa- tions across our state. Another item of good news: in 2014 a law was passed that authorizes municipalities to adopt ordinances that require foreclosing lenders to main- tain up to local codes the exterior of vacant homes subject to foreclo- sure proceedings, or face stiff fines (NJSA 40: 48-2.12s). Many munici- palities across New Jersey have adopt- ed such ordinances. If your town has not yet adopted such an ordinance, you are encouraged to contact your town’s governing body and strongly suggest they do so. Amendatory language to this law was introduced last year which would require lenders foreclosing on vacant and abandoned properties to likewise maintain the interior of such units, but it was not approved before the end of last year’s legislative session. It has not yet been introduced in the cur- rent legislative session. Stay tuned… n ZOMBIE FORECLOSURES... from page 29.

Who canYOUR Association count on today for guidance in Transition and Construction Defect Litigation?

A Professional Corporation

Hueston McNulty, P.C. Defense and General Counsel Serving New Jersey, New York & Pennsylvania N Value–Experience–Quality We provide our Association clients with qual- ity and value.We strive to solve the problem– resolve the issue–and make life easier for our Associations and their property managers. Samuel J. McNulty, Esq. smcnulty@huestonmcnulty.com /www.huestonmcnulty.com Tel: 973-377-0200 / Fax: 973-377-6328 Florham Park - Sparta - Toms River - Philadelphia - Manhattan

30

S E P T E M B E R , 2 0 1 6