Protects equity accrued by property owner in tax sale foreclosure.

This bill changes New Jersey's tax foreclosure process to protect property owners' equity. Currently, when a property owner loses a tax sale foreclosure case, they lose all equity built up in the property (e.g., from mortgage payments or appreciation). Under the bill, after a court approves the foreclosure, the sheriff must hold an internet auction of the property instead of transferring ownership to the tax lien holder. Auction proceeds first cover the tax lien holder's costs (property taxes, interest, and court fees), then any municipal liens, and any remaining funds are returned to the former owner.