New Jersey Statutes 54:5-86.2. Foreclosure against omitted party
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Terms Used In New Jersey Statutes 54:5-86.2
- 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
The municipality, in any such case, shall have the right to foreclose the tax sale certificate against the omitted party, in any manner provided by law for the foreclosure of a tax sale certificate, notwithstanding the prior sale of the property by the municipality.
L.1953, c. 192, p. 1488, s. 2.