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Section 54:1-42 - Commissioner may acquire property to satisfy claim; limitation

NJ Rev Stat § 54:1-42 (2019) (N/A)
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54:1-42. Commissioner may acquire property to satisfy claim; limitation

The commissioner may bid for and purchase any property, real and personal, heretofore or hereafter exposed to sale under the order or decree of any court for the payment and satisfaction of any claim for taxes held by this state, and take and hold the title to the property, real and personal, so purchased in his official name, style and title, but he shall in no case bid a higher price for such property than shall be sufficient to save the amount due to the state upon its claim.

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Section 54:1-43 - Sale of property; approval by state house commission; use of proceeds