Permits refund of additional fee paid in excess of one percent of consideration of certain real property transfers if contract was executed prior to July 10, 2025.

This bill allows sellers of real estate valued over $1 million to request refunds for excess transfer fees paid above 1% of the sale price, if their sales contract was fully signed before July 10, 2025. It removes the current requirement that deeds must be recorded by November 15, 2025 to qualify for a refund, making the refund available regardless of when the deed is recorded. Sellers must file a refund claim with the New Jersey Division of Taxation within one year of the deed's recording, providing required documentation. The change applies retroactively to July 10, 2025, directly affecting sellers who executed pre-July 10 contracts but paid higher-tier fees under the existing system.