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Terms Used In New Jersey Statutes 2A:56-43

  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
At such time as the share of real estate so sold would have become vested in fee simple absolute and the particular estate or estates therein would be determined, as aforesaid, if no such sale thereof had been made, the principal sum or mortgage representing such share in the real estate shall, under order and direction of the superior court, be paid or assigned to the persons, their heirs or assigns, who would have been entitled to the fee simple absolute in such share of real estate, unless said share shall have been theretofore already disposed of and paid by the order of the superior court.

L.1951 (1st SS), c.344.