Allows termination of motor vehicle lease in event of death; prohibits imposition of fee for early termination.

This New Jersey bill (A1584) requires dealers or lessors to terminate a private motor vehicle lease immediately upon the lessee's death if the vehicle was registered in New Jersey. It prohibits charging any fee for this early termination (though reasonable fees for excessive wear/mileage specified in the lease may still apply). The bill also prevents leases from forcing surviving family members, guardians, or estate representatives to buy the vehicle, continue the lease, or pay for remaining terms. Dealers must include written notice of this termination right in lease agreements, with a $500 penalty for failing to do so. The law applies to leases signed after enactment and excludes commercial vehicles and surviving co-lessees who signed the lease.