State Codes and Statutes

State Codes and Statutes

Statutes > New-jersey > Title-54 > Section-54-5 > 54-5-39

54:5-39.  Land held by purchaser assessed in owner's name;  resale by municipality as purchaser
    When a parcel of land is held by a purchaser under a sale not redeemed, until the right of redemption is barred, all subsequent taxes, assessments for benefits and other municipal charges shall be assessed in the name of the owner, as if no sale had been made.  In the event the municipality is such purchaser, such subsequent taxes, assessments for benefits and other municipal charges, shall be additional liens on the land and be added to the amount of the sale, and shall be paid before the land can be redeemed from the sale.  No further sale of a parcel while held by the municipality shall be made for subsequent municipal liens, unless directed by resolution of the governing body  of the municipality.  In that case the officer shall enter the property on his  tax sale list, and make up a new calculation to July first preceding the time  of the proposed sale, in the manner hereinbefore directed, the amount included  in the former sale to be entered in the calculation as a sale, as if it were an  independent lien originating on the date of the sale, the interest thereon to  be computed from that date, so that whenever a sale is held to enforce a  municipal lien it shall include all municipal liens or charges against the  property mentioned in the notice of sale.

     Amended by L.1945, c. 232, p. 750, s. 5;  L.1979, c. 142, s. 1, eff. July 6, 1979.