New Jersey Statutes 54:5-104.31. Construction as remedial legislation
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 54:5-104.31
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
3. The In Rem Tax Foreclosure Act (1948), P.L.1948, c.96 (C. 54:5-104.29 et seq.) shall be liberally construed as remedial legislation to encourage the barring of rights of redemption, and is an alternate and additional remedy to any other remedy provided by law, and shall apply to certificates of tax sales heretofore or hereafter issued and held by a municipality or an abandoned property certificate holder.
L.1948, c.96, s.3; amended 2015, c.16, s.3.