State Codes and Statutes

Statutes > New-jersey > Title-2a > Section-2a-50 > 2a-50-47

2A:50-47.  Judgment on foreclosure for unpaid municipal liens;  no merger; lien of mortgage continued
    The judgment entered in a foreclosure proceeding under authority of section  2A:50-48 of this title shall be only for the amount of the municipal lien or  liens unpaid and paid or purchased by the holder of the mortgage, with interest  on the amount of such lien or liens so paid or purchased by the holder of the  mortgage from the date of such payment or purchase, and shall adjudge that the  mortgage shall be deemed not to have merged therein, but shall remain in full  force and effect as security for the principal sum due thereon, with accrued  interest.
 
L.1951 (1st SS), c.344.