Terms Used In New Jersey Statutes 40:37-121

  • person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
At the sale, the real estate shall be publicly sold to the person who will take the same for the shortest period of time, not exceeding fifty years from the date of sale, and pay to the commission before the close of the sale the full amount due upon the unpaid assessments, with interest thereon from the time when the same was confirmed, at the rate of six per cent per annum, together with such sum as the commission may fix and determine to be a fair proportion of the expenses of advertising, conducting and making the sale. If the purchaser fails to make such payment, he shall forfeit all claim to the real estate, and the same shall be resold by the commission after advertisement in the manner provided in section 40:37-120 of this title.
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