New Jersey Statutes 54:5-104.103. Definition of phrase “thought to be owned”
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Terms Used In New Jersey Statutes 54:5-104.103
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Devise: To gift property by will.
- 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
Within the meaning of this act, premises shall be deemed to be “thought to be owned” where an individual or individuals have color of title by virtue of any deed whatsoever, devise, inheritance, or by virtue of a tax sale certificate, if foreclosure proceedings on said certificate have been completed (whether by said individual or individuals or others) and have resulted in a judgment purporting to foreclose the interests named therein, even if said foreclosure proceedings resulting in said judgment are void as against an owner subject to the provisions of this act, or his predecessors in interest.
L.1964, c. 184, s. 4.