Requires premium payment made to municipality by purchaser of tax lien to be paid to property owner under certain circumstances.

This bill (A3331) changes how tax lien premium payments are handled in New Jersey. Currently, if a property owner fails to redeem a tax lien within five years, the premium paid by the lien purchaser goes to the municipality. Under this bill, after a foreclosure judgment, the premium must be deposited with the court within one year. The former property owner can claim the payment by applying to the court within that year, or it will go to the municipality if no claim is made. This directly affects property owners who lose homes to tax foreclosure.