Bill Text: NJ S1987 | 2016-2017 | Regular Session | Introduced
Bill Title: Allows termination of motor vehicle lease in event of death; prohibits imposition of fee for early termination.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2016-04-18 - Introduced in the Senate, Referred to Senate Commerce Committee [S1987 Detail]
Download: New_Jersey-2016-S1987-Introduced.html
Sponsored by:
Senator NILSA CRUZ-PEREZ
District 5 (Camden and Gloucester)
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 vehicle 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 prior to the end of the original term of the lease in the event of a lessee's death.
b. A dealer or lessor shall not impose or assess a fee for the termination of a motor vehicle lease pursuant to the provisions of subsection a. of this section.
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 satisfactory proof of the lessee's death to the dealer or lessor within 60 days after the death of the decedent in order to have a lease terminated pursuant to the provisions of 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 termination of the lease.
In addition, 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.
Finally, the bill requires a surviving spouse, family member, guardian, or estate administrator or executor to provide a death certificate or other satisfactory proof of the lessee's death to the dealer or lessor within 60 days after the death of the decedent in order to have a lease terminated under the provisions of this bill.
