New Jersey Statutes 2A:40-4. Transfer of property on gaming consideration to vest title in heirs or representatives of transferor
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Terms Used In New Jersey Statutes 2A:40-4
- Intestate: Dying without leaving a will.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
If any sale, conveyance, lease or mortgage of either real or personal estate as is made void by section 2A:40-3 of this title shall be made, the same shall inure to the use of the heirs or legal representatives of the vendor, lessor or mortgagor, and shall vest the whole estate and interest so attempted to be transferred in such property, to all intents and purposes, in such heirs or legal representatives in the same manner as though the vendor, bargainor, lessor or mortgagor had died intestate. All conveyances or other devices made to evade this section shall be utterly void.
L.1951 (1st SS), c.344.