New Jersey Statutes 52:27BBB-43. Conveyance of right, title, interest in certain real property
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Terms Used In New Jersey Statutes 52:27BBB-43
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: include lands, tenements and hereditaments and all rights thereto and interests therein. See New Jersey Statutes 1:1-2
44. The governing body of each qualified municipality shall convey to the board, for the period of rehabilitation, its right, title and interest in any real property, acquired through the purchase of any tax sale certificate covering that real property whose rights of redemption have been foreclosed under the In Rem Tax Foreclosure Act (1948), P.L.1948, c.96 (C. 54:5-104.29 et seq.), so long as the liens have previously been offered by the municipality at a public tax lien sale.
L.2002, c.43, s.44; amended 2009, c.337, s.9.