Summary#
S-4848 would add requirements to New Jersey’s Consumer Fraud Act for sales of certain memorials. Its stated goal is to require a written contract for each sale and give the purchaser the option to put payments in escrow. The bill is introduced and is not law; it would take effect 180 days after enactment.
- The seller and purchaser would have to sign a legible contract in understandable language. It must describe the memorial, delivery or installation, location, total price, itemized charges, and payment schedule, among other details.
- The contract must state that the purchaser can choose to put initial and scheduled payments into an escrow account at an in-state, federally insured bank or savings and loan association.
- The purchaser would not have to choose escrow. If they do, the money would go to the seller upon receipt of the memorial or, if the contract says so, upon installation.
- A violation would be subject to remedies and penalties under the Consumer Fraud Act. The bill’s statement identifies possible penalties of up to $10,000 for a first offense and $20,000 for later offenses, as well as other remedies.
What it means for you#
- People buying a memorial covered by the bill: You would have to receive and sign a contract with the required details. You could choose escrow for initial and scheduled payments, but the bill does not require you to use it.
- Memorial sellers: You would have to provide the contract and escrow option. The bill defines a memorial as a marker or monument at a grave bearing a deceased person’s or family name, or an effigy or other representation of a deceased person buried there. A grave is a place for underground disposition of human remains or cremated remains.
- People involved in other memorial purchases: The bill’s definition may not cover every item someone might call a memorial. The text does not directly change other kinds of purchases.
Money#
No cost estimate is available in the supplied material.
- Sellers would have to prepare contracts and offer an escrow option; the bill gives no estimate of those costs.
- A purchaser who chooses escrow would deposit payments there. The bill does not state whether the account has fees or earns interest.
- The bill’s statement says Consumer Fraud Act penalties may reach $10,000 for a first offense and $20,000 for a later offense. It also identifies possible cease-and-desist orders, punitive damages, and treble damages and costs for an injured party.
What is unclear#
- The existing Consumer Fraud Act was not supplied, so its current requirements and how these new rules would fit with them could not be verified.
- The bill does not set out rules for escrow account ownership, fees, interest, refunds, or disputes.
- It does not specify what happens if a memorial is not delivered or installed, or if there is a disagreement about whether the contract was fulfilled.
- The exact start date depends on when the bill is enacted. It would apply to sales on or after the date 180 days after enactment.
Case for#
- A signed contract with clear descriptions, prices, timing, and location could help purchasers understand what they are buying.
- Offering escrow gives purchasers a choice to keep payments in an account until they receive the memorial or, if the contract provides, it is installed.
- Making violations subject to Consumer Fraud Act remedies could give purchasers a way to seek redress.
Case against#
- The bill requires an escrow option but does not explain important account terms, such as fees, interest, or how funds are handled if the sale is cancelled or disputed.
- Escrow money may be released when the purchaser receives the memorial, or when installation occurs if the contract says so. The bill does not explain how later complaints about the memorial would affect that payment.
- The bill requires sellers to prepare detailed contracts and offer escrow, but provides no estimate of the resulting costs.