New Jersey § 56:12-66
Full text of New Jersey New Jersey Statutes § 56:12-66, with citation guidance and answers to common questions.
§ 56:12-66.
a. Where the lessee is liable at the end of the lease term for charges for excessive
wear and damage to the motor vehicle, the lease (or the addendum) shall contain a
statement that the lessee may obtain at the end of the lease term, at the lessee's
expense, a professional appraisal of the amount required to repair or replace parts
or the amount which the excessive wear and damage reduces the value of the vehicle. This professional appraisal shall be performed by an independent third party agreed
to by the lessee and the lessor, which appraisal shall be final and binding on the
parties. b. Within 10 business days of the return of the motor vehicle to the lessor, the lessor
shall mail or deliver to the lessee an invoice for amounts claimed by the lessor for
excess wear and damage. The invoice shall contain in 10 point bold face type a notice of the lessee's right
under subsection a. of this section to obtain an independent appraisal of excess wear
and damage. The notice shall also provide that: (i) the lessor must be advised in writing within
seven business days following the earlier of the date of the mailing or delivery of
the invoice if the lessee elects to obtain an independent appraisal; (ii) any such
appraisal must be conducted within ten business days following the date that the lessor
is notified of the lessee's election; and (iii) that if the lessee fails to notify
the lessor within the time allotted that the lessee has elected an independent appraisal,
the lessor's invoice will be deemed to be final and binding on the parties. c. Within 15 business days after the lessee's obligations under the lease have been
determined and satisfied, which shall include but not be limited to, the lessee's
liability for excess wear and damage under this section, the lessor shall credit to
the lessee's account or mail to the lessee any refund of any security deposit due
to the lessee. d. Nothing in this section shall limit the lessee's obligation for any charge for
excess mileage as provided in the lease.
Frequently Asked Questions About New Jersey § 56:12-66
What does New Jersey Statutes § 56:12-66 cover?
Section 56:12-66 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 56:12-66?
A common citation format is "New Jersey Statutes § 56:12-66" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 56:12-66 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.