This bill amends the New Jersey Consumer Fraud Act to explicitly include the sale of real estate by homeowners under its jurisdiction. It introduces new legal language that defines "merchandise" to encompass real estate, thereby extending the protections of the act to homeowners engaging in the sale or advertisement of their properties. The bill also establishes that any unconscionable or abusive practices, including deception or misrepresentation in these transactions, are considered unlawful practices under the act.

As a result of this amendment, homeowners will be subject to the same penalties as commercial sellers for violations of the Consumer Fraud Act, which can include monetary penalties of up to $10,000 for first offenses and $20,000 for subsequent offenses. Additionally, the Attorney General will have the authority to issue cease and desist orders, and injured parties may be entitled to punitive damages, treble damages, and costs. This change aims to enhance consumer protection in real estate transactions involving homeowners.

Statutes affected:
Introduced: 56:8-1