Exempts sale of land to nonprofit organizations for preservation for recreation and conservation purposes from realty transfer fee.

A5094

ASSEMBLY, No. 5094

STATE OF NEW JERSEY

222nd LEGISLATURE

�

INTRODUCED MAY 14, 2026

Sponsored by:

Assemblyman� ROY FREIMAN

District 16 (Hunterdon, Mercer, Middlesex and Somerset)

SYNOPSIS

���� Exempts sale of land to nonprofit organizations for
preservation for recreation and conservation purposes from realty transfer fee.

CURRENT VERSION OF TEXT

���� As introduced.

��

An Act
concerning the realty transfer fee and amending
P.L.1968, c.49.

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

���� 1.��� Section 6 of P.L.1968,
c.49 (C.46:15-10) is amended to read as follows:

���� 6.��� The fee imposed by this
act shall not apply to a deed:

���� (a)�� For a consideration, as
defined in section 1(c), of less than $100.00;

���� (b)�� By or to the United
States of America, this State, or any instrumentality, agency, or subdivision
thereof;

���� (c)�� Solely in order to
provide or release security for a debt or obligation;

���� (d)�� Which confirms or
corrects a deed previously recorded;

���� (e)�� On a sale for delinquent
taxes or assessments;

���� (f)�� On partition;

���� (g)�� By a receiver, trustee
in bankruptcy or liquidation, or assignee for the benefit of creditors;

���� (h)�� Eligible to be recorded
as an "ancient deed" pursuant to R.S.46:16-7;

���� (i)��� Acknowledged or proved
on or before July 3, 1968;

���� (j)��� Between husband and
wife, or parent and child;

���� (k)�� Conveying a cemetery lot
or plot;

���� (l)��� In specific performance
of a final judgment;

���� (m)� Releasing a right of
reversion;

���� (n)�� Previously recorded in
another county and full realty transfer fee paid or accounted for, as evidenced
by written instrument, attested by the grantee and acknowledged by the county
recording officer of the county of such prior recording, specifying the county,
book, page, date of prior recording, and amount of realty transfer fee
previously paid;

���� (o)�� By an executor or
administrator of a decedent to a devisee or heir to effect distribution of the
decedent's estate in accordance with the provisions of the decedent's will or
the intestate laws of this State;

���� (p)�� Recorded within 90 days
following the entry of a divorce decree which dissolves the marriage between
the grantor and grantee;

���� (q)�� Issued by a cooperative
corporation, as part of a conversion of all of the assets of the cooperative
corporation into a condominium, to a shareholder upon the surrender by the
shareholder of all of the shareholder's stock in the cooperative corporation and
the proprietary lease entitling the shareholder to exclusive occupancy of a
portion of the property owned by the corporation.

���� (r)��� For transfer of real
property that is entered into on and after January 1, 2021 that is an
intercompany transfer between combined group members as part of the unitary
business, as those terms are used in section 4 of P.L.1945, c.162 (C.54:10A-4)
.

����
(s)�� Conveying real
property to a nonprofit organization for permanent preservation for recreation
and conservation purposes pursuant to the �Preserve New Jersey Act,� P.L.2016,
c.12 (C.13:8C-43 et seq.).

(cf:� P.L.2020, c.118, s.17)

���� 2. �This act shall take effect
immediately.

STATEMENT

���� This bill would exempt, from
the realty transfer fee, the sale of real property to a nonprofit organization
for permanent preservation for recreation and conservation purposes pursuant to
the �Preserve New Jersey Act,� P.L.2016, c.12 (C.13:8C-43 et seq.).