New Jersey § 48:12-138 Sale or lease;  title vested in purchaser or lessee

New Jersey Statutes

§ 48:12-138 — Sale or lease; title vested in purchaser or lessee

New Jersey § 48:12-138

Title 48PUBLIC UTILITIES

This text of New Jersey § 48:12-138 (Sale or lease; title vested in purchaser or lessee) 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. § 48:12-138 (2026).

Text

When a sale is made of a railroad in this State under execution or by force of a decree or judgment in foreclosure or insolvency proceedings or otherwise, or when a lease of a railroad is made by a receiver by order of the Superior Court, the sale and conveyance or lease shall vest in the purchaser or lessee such title of the parties to the suit as the court may direct, and may include all property and franchises of the company subject to all conditions, limitations and restrictions. Amended by L.1962, c. 198, s. 148.

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When a sale is made of a railroad in this State under execution or by force of a decree or judgment in foreclosure or insolvency proceedings or otherwise, or when a lease of a railroad is made by a receiver by order of the Superior Court, the sale and conveyance or lease shall vest in the purchaser or lessee such title of the parties to the suit as the court may direct, and may include all property and franchises of the company subject to all conditions, limitations and restrictions. Amended by L.1962, c. 198, s. 148.