New Jersey Statutes 54:5-122. Release of obligation to collect taxes, etc.; exemption from taxation
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 54:5-122
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
Any conveyance or transfer made in pursuance of this act shall release the municipality from its obligation to collect any taxes, assessments or other municipal charges which may be a lien upon such lands, and such lands shall thereafter be exempt from taxation as long as the title thereto is vested in the State of New Jersey.
L.1940, c. 73, s. 2.