Bill Text: NJ S1721 | 2024-2025 | Regular Session | Introduced
Bill Title: Requires secured party to deliver motor vehicle certificate of ownership by certified mail.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-01-09 - Introduced in the Senate, Referred to Senate Transportation Committee [S1721 Detail]
Download: New_Jersey-2024-S1721-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Senator PAUL D. MORIARTY
District 4 (Atlantic, Camden and Gloucester)
SYNOPSIS
Requires secured party to deliver motor vehicle certificate of ownership by certified mail.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning the delivery of certificates of ownership and amending R.S.39:10-10.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. R.S.39:10-10 is amended to read as follows:
39:10-10. When the contract or terms of the security agreement noted on the certificate of origin [,] or certificate of ownership have been performed , the seller or secured party shall deliver by certified mail, return receipt requested, to the buyer the certificate of ownership thereto, executed as provided in this chapter, with proper evidence of satisfaction of the contract or termination of the security interest. Within 15 days after the performance of the contract or termination of the security interest, the seller or secured party shall file with the [director] chief administrator a notice, in [such] a form as the [director] chief administrator shall prescribe, containing evidence of [such] the performance or termination. The [director] chief administrator shall thereupon cause a notation to be made on his records of certificate of ownership of the motor vehicle that the contract has been satisfied or the security interest terminated.
Any person violating the provisions of this section shall pay a fine of [$25.00] $25.
(cf: P.L.1961, c.122, s.4)
2. This act shall take effect on the first day of the seventh month after enactment.
STATEMENT
The bill requires that a motor vehicle certificate of ownership be delivered to the buyer by certified mail, return receipt requested.
Under current law, the delivery method of a certificate of ownership is not specified. The bill is applicable to a lender, seller, or other person who has ownership over a motor vehicle until the obligation of debt has been satisfied.
The certificate of ownership, or vehicle title, is proof of a buyer's ownership of a vehicle. This important document should be transmitted to the buyer via a secure delivery method.
