State Codes and Statutes

State Codes and Statutes

Statutes > New-jersey > Title-54 > Section-54-5 > 54-5-34

54:5-34.  Sale;  purchase by municipality;  rights of municipality
    The officer making sale shall strike off and sell to the municipality in fee  for redemption any parcel of real property purchased in accordance with a successful bid made pursuant to a resolution of the governing body or at 18% any parcel of real property for which there shall be no other purchaser, and the municipality shall have the same remedies and rights as other purchasers, including the right to bar or foreclose the right of redemption.

     Amended by L.1962, c. 161, s. 2;  L.1975, c. 210, s. 2, eff. Sept. 25, 1975; L.1979, c. 435, s. 3, eff. Feb. 14, 1980.