New Jersey Statutes 40A:12-33. Definitions
Terms Used In New Jersey Statutes 40A:12-33
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Executor: A male person named in a will to carry out the decedent
- 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
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- Trustee: A person or institution holding and administering property in trust.
a. “Application” means all information required by the municipality of an applicant in order to make a determination regarding the sale of in rem property;
b. “In rem property” means any residential property consisting of less than five dwelling units, to which a municipality has acquired title pursuant to the “In Rem Tax Foreclosure Act (1948),” P.L. 1948, c. 96 (C. 54:5-104.29 et seq.);
c. “Enforcing agency” means the enforcing agency in any municipality designated to administer and enforce the “State Uniform Construction Code Act” pursuant to section 8 of P.L. 1975, c. 217 (C. 52:27D-126), and regulations promulgated thereunder;
d. “Owner” means the owner or owners in fee of the property or a lesser estate therein, a mortgagee or vendee in possession, an assignee of rents, receiver, executor, trustee, lessee, or any other person, firm or corporation, directly or indirectly in control of a building, structure or real property;
e. “Qualified applicant” or “applicant” means an applicant for an urban homestead who is at least 18 years of age upon application;
f. “Urban homesteader” means a person who has been granted title to an in rem property under the conditions set forth in this act;
g. “Urban homesteading agency” or “homesteading agency” means that governmental entity designated to administer the urban homesteading program pursuant to section 4 of this act; and
h. “Urban homesteading program” means the process by which title to in rem property is conveyed by a municipality to an urban homesteader.
L. 1988, c. 148, s. 3.