Changes that affect tenants and landlords due to Covid19 and Electronic Notary Bill
Tenant Security Deposit
Tenants are allowed to use their security deposit to pay their monthly rent. This is regardless, if the tenant continues to be employed or the tenant is a multi-millionaire.
We have three examples of the Executive Order for when the security deposit account needs to be replenished.
1) If the lease is renewed during Public Health Emergency:
The security deposit account needs to be replenished within 6 months after the Public Health Emergency has been lifted.
2) If the lease is renewed after the Public Health Emergency has been lifted:
The security deposit account needs to be replenished upon signing the new lease.
3) Month to Month tenants:
The security deposit trust account should be replenished on the first month after the Public Health Emergency has been lifted.
Click here to read Executive Order
Electronic Notary Bill
A notary public would be authorized to perform a notarial act for a remotely located resident if the notary has: personal knowledge of their identity; satisfactory knowledge of the person's identity by oath or affirmation from a credible witness; and uses at least two different types of identity as proof to obtain satisfactory evidence of the person.
The notary public would also be required to make an audio-visual recording of the exchange and verify the remote records, among other security measures.
The bill would take effect immediately and expire upon rescission of Executive Order No. 103 by the Governor, which declared a state of emergency in New Jersey in response to the COVID-19 pandemic.
Attorneys, clerks and judges can do this also.
Our office has access to notary and if you need one we can help you with that.
Selling Your Home?
Get your home's value - our custom reports include accurate and up to date information.