New Jersey Statutes 2A:44-12. Disposition of proceeds of sale
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Terms Used In New Jersey Statutes 2A:44-12
- Lien: A claim against real or personal property in satisfaction of a debt.
The proceeds of the sale shall be applied to the payment of the lien and the expenses of seizure, if any, and of such sale. The balance, if any remaining, shall be paid to the owner of such property. The balance, if not claimed by the owner within 60 days after the sale, shall be paid over to the municipality, in which the aircraft or part thereof is detained, for the support of the poor.
L.1951 (1st SS), c.344.