54:4-117.Ā  When settlement prohibited
This method of adjustment and settlement of past-due taxes, assessments andĀ  other municipal charges, shall not be undertaken wherein there has been, priorĀ  to May twenty-ninth, one thousand nine hundred and thirty-seven, a tax sale orĀ  lien for taxes created to any purchaser, except said municipality, and whereinĀ  such purchaser holds a valid tax sales certificate covering the land.
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