New Jersey Statutes 2A:17-38. Statement of execution sales, disposition of revenues
Terms Used In New Jersey Statutes 2A:17-38
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
b. (1) When calculating the amount due thereon, as described in subsection a. of this section, the sheriff or officer shall additionally collect $350 per sale to be utilized by the fund within the New Jersey Housing and Mortgage Finance Agency established in section 6 of P.L.2021, c.34 (C. 55:14K-99).
(2) The revenues obtained from these increased amounts, after deduction of any actual administrative costs incurred by the sheriff or officer in carrying out the provisions of this subsection, shall be transmitted no later than the first day of each quarter by the sheriff or officer to the fund with an accounting of collections and foreclosure actions during the corresponding quarter.
c. The statement shall be certified under the hand of the officer making and filing it, and shall be conclusive against the officer only. If there be more sales than one, the statement shall be made and filed within 30 days after the final sale.
amended 2021, c.34, s.9.