2A:61-16 - Relief to bidder at sale on showing defect in title or lien or encumbrance on property sold
2A:61-16.Ā Relief to bidder at sale on showing defect in title or lien or encumbrance on property sold
Any purchaser of real estate at any public sale, held by any officer or person mentioned in section 2A:61-1 of this title, except at sales under general execution and actual levy thereunder, or for unpaid taxes or municipal liens, shall be entitled to be relieved from his bid if, before delivery of theĀ deed, he shall satisfy the court by whose authority such sale was made of theĀ existence of any substantial defect in or cloud upon the title of the realĀ estate sold, which would render such title unmarketable, or of the existence ofĀ any lien or encumbrance thereon, unless a reasonable description of the estateĀ or interest to be sold, and of the defects in title and liens or encumbrancesĀ thereon, with the approximate amount of such liens and encumbrances, if any, beĀ inserted in the notices and advertisements required by law, and in theĀ conditions of sale;Ā but, if the court shall direct any lien or encumbrance not described, and which is due and payable, to be paid out of the proceeds of sale, the purchaser shall not then be relieved by reason of such lien or encumbrance.
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L.1951 (1st SS), c.344.
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Any purchaser of real estate at any public sale, held by any officer or person mentioned in section 2A:61-1 of this title, except at sales under general execution and actual levy thereunder, or for unpaid taxes or municipal liens, shall be entitled to be relieved from his bid if, before delivery of theĀ deed, he shall satisfy the court by whose authority such sale was made of theĀ existence of any substantial defect in or cloud upon the title of the realĀ estate sold, which would render such title unmarketable, or of the existence ofĀ any lien or encumbrance thereon, unless a reasonable description of the estateĀ or interest to be sold, and of the defects in title and liens or encumbrancesĀ thereon, with the approximate amount of such liens and encumbrances, if any, beĀ inserted in the notices and advertisements required by law, and in theĀ conditions of sale;Ā but, if the court shall direct any lien or encumbrance not described, and which is due and payable, to be paid out of the proceeds of sale, the purchaser shall not then be relieved by reason of such lien or encumbrance.
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L.1951 (1st SS), c.344.
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