New Jersey Statutes
§ 54:5-134 — Transfer of municipal lien.
New Jersey·Title 54 TAXATION
5.
a.No municipal lien shall be transferred to a joint municipal lien fund unless the record owner of the property subject to the lien has first been sent notice, by regular and certified mail, of the intended transfer and been given an opportunity to redeem the lien at least 10 days prior to the transfer.
b.A municipal lien transferred to a joint municipal lien pool shall remain the property of the municipality transferring the lien until actually sold by the pool. Joint municipal lien pools shall not own or foreclose upon municipal liens. The sale or arrangement for use as collateral for a bond or note of a municipal lien shall not affect redemption rights or the existing foreclosure process. L.1997,c.274,s.5.
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Nearby Sections
15
§ 54:5-1
Short title§ 54:5-104.100
Conveyance of outstanding interest against certain residential realty; payment; action to compel conveyance§ 54:5-104.101
Applicability of law§ 54:5-104.102
Benefits and disabilities; application to successors in interest; agreements to defeat operation of Act§ 54:5-104.103
Definition of phrase "thought to be owned"§ 54:5-104.29
Short title§ 54:5-104.33
No personal judgment shall be entered§ 54:5-104.35
Resolution by governing body§ 54:5-104.36
Jurisdiction§ 54:5-104.37
Fees to be paid on institution of action§ 54:5-104.41
Complaint to be filed with tax collector; county recording officer and Attorney-General§ 54:5-104.42
Notice