New Jersey Statutes 48:12-144. Foreclosure sale in another state of foreign railroad operating road within this state
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Terms Used In New Jersey Statutes 48:12-144
- 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
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
L.1898, c. 11, p. 23 (C.S. pp. 4264, 4265, s.s. 110 to 113), entitled “A supplement to an act entitled “An act to authorize the formation of railroad corporations and regulate the same,’ approved April second, one thousand eight hundred and seventy-three,” approved February twenty-third, one thousand eight hundred and ninety-eight, saved from repeal. [This act vests in the purchasers at foreclosure sale made in another state before February 23, 1898, of the mortgaged premises of a foreign railroad, the rights and franchises of such railroad lying within this state upon compliance with certain conditions.]