New Jersey Statutes Title 2A. Administration of Civil and Criminal Justice 2A § 17-17.2

a. Veterans, active duty service members, and families of veterans and service members make extraordinary sacrifices in service to the State and this country.

b. Many veterans and veterans' families face disproportionate financial hardship, including exposure to predatory lending, fraud, and the loss of hard-earned property due to creditor actions.

c. The State currently does not provide a homestead exemption, leaving veterans and their families uniquely vulnerable to home loss in the event of a bankruptcy.

d. Providing enhanced creditor protections, including a homestead protection for up to two properties owned by veterans, is necessary to preserve stability, reward service, and strengthen communities.

e. This act is deemed remedial in nature, and therefore shall be liberally construed to effectuate its purpose of safeguarding veterans, service members, and military spouses.