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Home›Finance Debt›Assembly committee passes law allowing termination of car rental contracts for deceased residents

Assembly committee passes law allowing termination of car rental contracts for deceased residents

By Theresa M. Bates
March 9, 2021
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Assembly committee passes law allowing termination of car rental contracts for deceased residents

(TRENTON) – The Assembly’s Consumers Committee has approved legislation sponsored by Assembly Democrats Pamela Lampitt, Raj Mukherji, Jamel Holley, Joe Danielsen, Benjie Wimberly and Angela McKnight to allow the termination of a lease of car if the tenant dies.

“When a person dies before their rental agreement ends, grieving family members unfortunately have to worry about paying the balance and remaining fees,” Lampitt (D-Burlington / Camden) said. “It can leave people who haven’t signed a lease or agreed to be co-signers suddenly responsible for thousands of dollars in fees. It is unfair and unacceptable, especially after such a loss. “

The law project (A-1601) would allow the termination of a motor vehicle lease in the event of the lessee’s death when the vehicle is returned to the dealership or lessor and would prohibit the imposition of charges for early termination of the lease. The measure would also prohibit a lease from requiring a surviving family member, guardian or estate administrator to purchase the vehicle, continue to lease the vehicle, or buy back the remainder of the lease.

“Just like the cancellation of student loan debt in the event of someone’s death, the death of a car renter is another special circumstance that should require the cancellation of debt to prevent families don’t take on an extra burden, ”Mukherji (D-Hudson) said. “Returning the lease and canceling the contract is a common sense decision.”

“Creditors often put early termination clauses in contracts to protect their assets, but the death of a loved one is a mitigating circumstance and certainly should not be bound by this clause,” said Holley (D-Union) . “It is a practical and compassionate policy.”

“The last thing grieving family members should face is the fear of having to take on car loans for their loved one following their death,” said Danielsen (D-Middlesex / Somerset). “This will ensure that they do not face this additional burden.”

“There are many responsibilities that fall on a grieving family after someone’s death,” said Wimberly (D-Bergen / Passaic). “It is important to eliminate unnecessary stress and costs, and this bill will bring financial relief to loved ones.

“The early termination fee for a car lease could cost hundreds if not thousands of dollars,” McKnight (D-Hudson) said. “It is simply wrong for any dealer or lessor to demand that families be charged an exorbitant amount after suffering such a devastating loss.”

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