Terms Used In New Jersey Statutes 54:4-117

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
This method of adjustment and settlement of past-due taxes, assessments and other municipal charges, shall not be undertaken wherein there has been, prior to May twenty-ninth, one thousand nine hundred and thirty-seven, a tax sale or lien for taxes created to any purchaser, except said municipality, and wherein such purchaser holds a valid tax sales certificate covering the land.
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