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 fees paid in excess of 1% of the property's sale price. It directly affects sellers who executed contracts before July 10, 2025, for properties transferred under those contracts. The key change removes the previous requirement that deeds must be recorded by November 15, 2025, enabling sellers to file refund claims with the New Jersey Division of Taxation within one year of recording - regardless of when the deed was recorded. Sellers must submit required documentation to claim the difference between fees paid and the 1% rate. The refund applies only to transactions meeting the contract execution date and property value thresholds.