Bill Text: NJ A2495 | 2016-2017 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: Allows termination of motor vehicle lease in event of death; prohibits imposition of fee for early termination.

Spectrum: Partisan Bill (Democrat 10-0)

Status: (Engrossed - Dead) 2017-12-11 - Received in the Senate, Referred to Senate Commerce Committee [A2495 Detail]

Download: New_Jersey-2016-A2495-Introduced.html

---

ASSEMBLY, No. 2495

STATE OF NEW JERSEY

217th LEGISLATURE

 

INTRODUCED FEBRUARY 4, 2016

 

 

Sponsored by:

Assemblywoman  PAMELA R. LAMPITT

District 6 (Burlington and Camden)

 

 

 

 

SYNOPSIS

     Allows termination of motor vehicle lease in event of death; prohibits imposition of fee for early termination.

 

CURRENT VERSION OF TEXT

     As introduced.

  

An Act concerning motor vehicles leases and supplementing Title 56 of the Revised Statutes.

 

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

 

     1.    a.   A dealer or lessor shall allow a motor vehicle lease to be terminated prematurely in the event of a lessee's death.

     b.    A dealer or lessor shall not impose or assess a fee for the early termination of a motor vehicle lease in the event of a lessee's death.

     c.     A motor vehicle lease shall not require, in the event of a lessee's death, that the decedent's surviving spouse, family member, guardian, or estate administrator or executor: purchase the leased motor vehicle; buy out the remainder of the lease; or continue to lease the motor vehicle under the original terms of the lease.

     d.    A surviving spouse, family member, guardian, or estate administrator or executor shall provide a death certificate, or other proof satisfactory, to the dealer or lessor within 60 days after the death of the decedent to be eligible under this section.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill allows a motor vehicle lease to be terminated upon the death of the lessee and prohibits a dealer or lessor from imposing or assessing any fee for the early termination of a vehicle lease in the event of a lessee's death. 

     The bill prohibits a lease from requiring, in the event of a lessee's death, that the decedent's surviving spouse, family member, guardian, or estate administrator or executor: purchase the leased motor vehicle; buy out the remainder of the lease; or continue to lease the motor vehicle under the original terms of the lease.

     A surviving spouse, family member, guardian, or estate administrator or executor would need to provide a death certificate, or other proof satisfactory, to the dealer or lessor within 60 days after the death of the decedent.