New Jersey Statutes 2A:50-36. When sale under execution authorized; issue and record of writ
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 2A:50-36
- 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.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
In any civil action for the foreclosure or satisfaction of any mortgage, the superior court may order a sale of the mortgaged premises, or such part thereof as shall be sufficient to discharge the mortgage or encumbrances on the mortgaged premises, besides costs by virtue of a writ of execution issued for that purpose. The writ of execution shall, before it is issued, be recorded by the clerk of the court in the book kept by him for recording executions against real estate.
L.1951 (1st SS), c.344.