As discussed in Title Talk No. 73 (Winter 2009-10), the County Homelessness Trust Fund Act, P.L. 2009, c. 123, became effective in September, 2009. The Act permits each county to establish a Homelessness Trust Fund. The goal of the Fund is to “provide some of the additional funds necessary to move homeless or formerly homeless individuals toward the goal of permanent affordable housing and self-sufficiency”. The statute amends NJSA 22A:4-17 to permit those counties which elect to establish such a Fund toimpose a surcharge of $3.00 for each document presented for recording (with the possible exception of mortgage assignments). The statute exempts from the fee “…assignments or substitutions of previously recorded deeds of trust”. It is unclear whether “deeds of trust” refers to (a) instruments creating or conveying property to trusts; or (b) mortgages. (In some jurisdictions, deeds of trust are used instead of mortgages.) Therefore, some counties may exempt mortgage assignments from the surcharge, while others may not.
Some (but not all) counties have decided to impose the surcharge. As of this date, the list (with dates of implementation) is as follows:
Bergen – Feb. 1, 2010
Hudson – March 1, 2010
Mercer – no date has been set
Middlesex – Jan. 1, 2010
Passaic -- Jan. 1, 2010
Somerset – June 1, 2010
Union – May 1, 2010