New Jersey § 40:37-128 Unsold land struck off to commission

New Jersey Statutes

§ 40:37-128 — Unsold land struck off to commission

New Jersey § 40:37-128

Title 40MUNICIPALITIES AND COUNTIES

This text of New Jersey § 40:37-128 (Unsold land struck off to commission) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 40:37-128 (2026).

Text

Real estate which is not bid off and sold when offered for sale or resale, according to the provisions of sections 40:37-96 to 40:37-174 of this title shall be struck off to the commission by its corporate name, for the longest term for which a sale is authorized to be made, and it may hold the property, and sell, assign and dispose thereof. The proceeds shall be devoted exclusively to the payment of bonds or obligations issued on the requisition of the park commission, for the purpose of providing a fund to meet the expenditures of the commission and to the payment of interest thereon. The commission shall, in relation to the real estate so struck off to it, have all the rights and privileges of a purchaser at such sale.

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Real estate which is not bid off and sold when offered for sale or resale, according to the provisions of sections 40:37-96 to 40:37-174 of this title shall be struck off to the commission by its corporate name, for the longest term for which a sale is authorized to be made, and it may hold the property, and sell, assign and dispose thereof. The proceeds shall be devoted exclusively to the payment of bonds or obligations issued on the requisition of the park commission, for the purpose of providing a fund to meet the expenditures of the commission and to the payment of interest thereon. The commission shall, in relation to the real estate so struck off to it, have all the rights and privileges of a purchaser at such sale.