[First Reprint]
SENATE, No. 1433
STATE OF NEW JERSEY
INTRODUCED JULY 25, 1996
By Senators O'CONNOR, GORMLEY, Sacco and Kenny
An Act supplementing Title 2A of the New Jersey Statutes, enacting an additional chapter 17A, Notice of Pending Action, chapter 17B, Collection of Judgments, chapter 17C, Foreclosure, chapter 17D, Public Sales, and repealing various sections of the statutory law.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. An additional chapter, chapter 17A, is added to Title 2A as follows:
TITLE 2A
CHAPTER 17A
NOTICE OF PENDING ACTION
2A:17A-1. Written Notice of Pending Action Concerning Real
Estate.
2A:17A-2. Contents of Notice of Pending Action.
2A:17A-3. Records and Index of Notices.
2A:17A-4. Effect of Notice of Pending Action.
2A:17A-5. Expiration and Extension of Notice of Pending Action.
2A:17A-6. Service of Notice of Pending Action.
2A:17A-7 Hearing.
2A:17A-8. Discharge of Notice of Pending Action by Court.
2A:17A-9. Filing of Order of Judgment Discharging Notice of
Pending Action.
2A:17A-10. Effect of Discharge.
2A:17A-11. Fee for Recording Notice of Taxable Cost.
2A:17A-1. Written notice of pending action concerning real estate.
a. A notice of pending action may be filed by a party in any action instituted in a court of this State or in the United States District Court for the District of New Jersey in which the party filing the notice:
(1) seeks to 1create or1 enforce a lien 1, interest in,1 on real estate; or
(2) seeks to affect the title to real estate; or
(3) seeks to affect the ownership of a lien or an encumbrance on real estate.
b. A notice of pending action shall not be filed under this chapter in an action to enforce 1[a construction lien,]1 a mechanic's lien or in an action to recover a judgment for money or damages only.
c. The notice of pending action shall be filed after the filing of the party's pleading in the action, in the office of the county clerk or register of deeds and mortgages of the county in which the affected real estate is located.
(Source: 2A:15-6)
2A:17A-2. Contents of notice of pending action.
a. A notice of pending action shall include the complete caption of the pending action, a brief description of the claim of the party filing the notice, and a description of the subject real estate which is sufficient to identify it.
b. In an action in which a claim is made for the foreclosure of a recorded or registered mortgage or the foreclosure of a recorded certificate of tax sale, the notice of pending action shall also specify the book and page of the record or registration of the mortgage or of the record of the certificate of tax sale.
(Source: 2A:15-6; 2A:15-9)
2A:17A-3. Record and index of notices.
a. The county clerk or register of deeds and mortgages shall record and index notices of pending action separately from other filings, and shall record the date of filing of each notice.
b. If a notice of pending action is filed in an action for the foreclosure of a recorded or registered mortgage or the foreclosure of a recorded certificate of tax sale, the date of the filing of the notice shall be noted on the record of the mortgage, the abstract of the record of the mortgage, or the record of the certificate of tax sale.
(Source: 2A:15-9; 2A:15-12)
2A:17A-4. Effect of notice of pending action.
a. Any person who acquires an interest in, or lien on, the property 1or any person claiming through such a person1 between the time the notice of pending action is filed and the time it is discharged or expires shall be considered to have had notice of the pendency of the action and shall be bound by any judgment entered in the action.
b. If a notice is not filed as provided in this chapter with respect to a pending action, the filing of the action shall not constitute constructive notice to a bona fide purchaser or to a person who 1, without knowledge of the action,1 acquires 1[a mortgage] an interest in1 or a lien on real estate which is the subject matter of the action.
(Source: 2A:15-7; 2A:15-8)
2A:17A-5. Expiration and extension of notice of pending action.
a. A notice of pending action shall expire after 1[three] five1 years from the date it is filed, unless an extension notice is filed pursuant to this section.
b. A notice of pending action may be extended for periods of one year if an extension is filed prior to the expiration of the original notice or any previous one year extension of the original notice. The extension notice shall contain all of the information required by this chapter for an original notice, and shall also include a certification by the party filing the notice that the subject action is still pending or that an appeal has been filed and is still pending.
(Source: 2A:15-11)
2A:17A-6. Service of notice pending action.
1[Within three] Except when the pending action is mortgage or tax foreclosure, within thirty1 days after filing of a notice of pending action, the party who filed it shall send a copy of the notice by registered or certified mail, return receipt requested to any person who held an interest in or lien on the property on the date of the filing of the 1[notice. Except when the pending action is a mortgage or tax foreclosure, the party who filed the notice of pending action shall also serve a copy of the]1 notice 1and1 to all other parties in the action against whom a claim is being made. 1Notice need not be sent to a person who holds an interest or lien that cannot be affected by the pending action.1 The notice shall be mailed to the current address of the person, if it is known or reasonably ascertainable, or to the party's last known address of record.
(Source: 2A:15-7)
2A:17A-7. Hearing.
a. Any party who is served with a notice of pending action pursuant to this chapter, and who claims an interest in the subject real estate may file a motion for discharge of the notice with the court that has jurisdiction of the action. After hearing and within 10 days, the court shall enter a determination on the motion.
b. The party who filed the notice of pending action shall bear the burden of establishing that there is a probability that final judgment will be entered in that party's favor, and that the probability of success on the merits is sufficient to justify the continuation of the notice.
c. If the court fails to find that there is a probability that final judgment will be entered in favor of the party filing the notice of pending action, and that the probability of success on the merits is sufficient to justify the continuation of the notice, the court shall immediately order the notice of pending action discharged.
(Source: 2A:15-7)
2A:17A-8. Discharge of notice of pending action by court.
A notice of pending action shall be ordered discharged by the court that has jurisdiction of the action as to which the notice of pending action has been filed:
a. If the party who filed a notice of pending action abandons the underlying action 1[or fails to prosecute it diligently]1; or
b. In an action for the enforcement against real estate of a claim for the payment of money, except for the foreclosure of a mortgage or tax sale certificate, if the party against whom a claim is being made gives sufficient security to pay the claim; or
c. Upon dismissal of the pending action; or
d. Upon the entry 1in the judgement docket1 of final judgment 1[in the pending action in the judgment docket] in the pending action against the person who filed the notice1.
(Source: 2A:15-10; 2A:15-14; 2A:15-15; 2A:15-16; 2A:15-17)
2A:17A-9. Filing of order or judgment discharge notice of pending action.
A copy of the order discharging a notice of pending action shall be filed with the county clerk or register or deeds and mortgages. A statement of the substance of the order shall be entered on the record of the notice of pending action.
(Source: 2A:15-14; 2A:15-16; 2A:15-17)
2A:17A-10. Effect of discharge.
Upon the filing of an order discharging a notice of pending action with the county clerk or register or deeds, the binding effect of the notice shall end, unless:
a. The order or judgment provides otherwise; or
b. The party who filed the notice of pending action obtains a stay pursuant to the Rules of Court in connection with the filing of a notice of appeal or a motion for relief from the judgment or order discharging the notice.
(Source: 2A: 15-10; 2A:15-14; 2A: 15-15; 2A:15-16; 2A:15-17)
2A:17A-11. Fee for recording notice a taxable cost.
The fee for recording a notice of pending action shall be taxable as a part of the costs in the action.
(Source: 2A:15-13)
2. An additional chapter, chapter 17B, is added to Title 2A as follows:
TITLE 2A
CHAPTER 17B
COLLECTION OF JUDGMENTS
2A:17B-1. Definitions.
2A:17B-2. Issuance of Collection Orders.
2A:17B-3. By Whom Issued.
2A:17B-4. To Whom Issued.
2A:17B-5. Form and Contents of Collection Orders.
2A:17B-6. Exemptions.
2A:17B-7. Selection of Exempt Personal Property.
2A:17B-8. Receipt of Collection Orders.
2A:17B-9. Judgment Creditor's Collection Instructions.
2A:17B-10. Levy Against Personal Property in Possession of
Judgment Debtor.
2A:17B-11. Levy Against Personal Property in a Dwelling.
2A:17B-12. Levy Against Property in an Inacessible Place.
2A:17B-13. Levy Against Personal Porperty in the Custody of a
Third Party.
2A:17B-14. Service and Mailing of Notice of Levy.
2A:17B-15. Collection Orders Against Earning; Earnings Subject to
Collection Orders.
2A:17B-16. Priorities Among Collection Orders Against Earnings.
2A:17B-17. Payments Under Collections Orders Against Earnings.
2A:17B-18. Collection Order; Lien on Personal Property.
2A:17B-19. Sale or Other Disposition of Property.
2A:17B-20. Property Sold, Manner.
2A:17B-21. Objections to Sale or Disposition of Property.
2A:17B-22. Priorities in Distribution of Proceeds.
2A:17B-23. Disputes Over Distribution of Proceeds.
2A:17B-24. Return of Collection Order.
2A:17B-1. Definitions
As used in this chapter:
"Earnings" means payment for personal services performed, whether described as wages, salary, commission, fees, bonus, tips, pension and retirement benefits or otherwise.
"Collection officer" includes a sheriff's officer, Special Civil Part officer or any other person performing similar functions.
"Collection order" means a court order, formerly called a writ of execution, directing the collection officer to satisfy a money judgment from the property of a judgment debtor.
"Property of the judgment debtor" means all interests in real property, all forms of personal property, including rights and credits, and all earnings.
(Source: New)
2A:17B-2. Issuance of collection orders.
a. At the request of a judgment creditor and upon receipt of any required fee, the clerk of the court shall issue a collection order directing the satisfaction of a money judgment from the property of the judgment debtor.
b. A collection order may be issued only within 20 years after entry of the judgment to be collected, or if the judgment has been revived, a collection order may be issued only within 20 years after the date of the revival of the judgment.
(Source: 2A:17-3)
2A:17B-3. By whom issued.
a. A collection order against any property of the judgment debtor may be issued by the Clerk of the Superior Court if the judgment is recorded in the judgment docket of the Superior Court.
b. A collection order against personal property or earnings may be issued by the Clerk of the Special Civil Part if the judgment is recorded in the case records of the Superior Court, Law Division, Special Civil Part but not in the judgment docket of the Superior Court.
(Source: 2A:17-4; 2A:17-17)
2A:17B-4. To whom issued.
a. Collection orders for judgments recorded in the judgment docket of the Superior Court may be directed to the sheriff of any county.
b. Collection orders for judgments recorded in the case records of the Superior Court, Law Division, Special Civil Part but not in the judgment docket of the Superior Court shall be directed to the officer responsible for enforcing judgments of the Law Division, Special Civil Part in any county.
(Source: 2A:17-4)
2A:17B-5. Form and contents of collection orders.
a. A collection order shall specify in its title whether it is directed at the property, or the earnings, of the judgment debtor.
b. A collection order shall include such information concerning the judgment, the judgment creditor and the judgment debtor as the Rules of Court require.
(Source: New)
2A:17B-6. Exemptions.
a. The following property of a judgment debtor, who is either a natural person resident in the State of New Jersey or the estate of a decedent who was resident in the State of New Jersey, shall be exempt from a collection order pursuant to this chapter:
(1) property that federal or other State statute forbids taking to satisfy a State judgment;
(2) wearing apparel of the judgment debtor other than furs and jewelry; and
(3) 1[goods whose value does not exceed either $2,000.00 or the amount determined pursuant to subsection b. of this section; and
(4) cash, bank deposits and similar financial property collectible as cash whose aggregate value does not exceed $1,000.00 or the amount determined pursuant to subsection b. of this section.]goods, cash, bank deposits and similar financial property collectible as cash selected as provided in N.J.S. 2A:17B-7 whose aggregate value does not exceed $1,000.00.1 Banks and financial institutions may assess a fee of 1[no more than $25.00] $60.001 per levy against the judgment debtor 1if the contract with the debtor provides for the fee1.
b. 1[The Governor, in consultation with the Department of the Treasury, not later than March 1 of each odd-numbered year, shall adjust the exemption amounts set forth in subsection a. of this section, or subsequent to 1997 the exemption amount resulting from any adjustment under this subsection, in direct proportion to the rise or fall of the Consumer Price Index for all urban consumers in the New York City and Philadelphia areas as reported by the United States Department of Labor. The Governor, no later than June 1 of each odd- numbered year, shall notify the Clerk of the Superior Court of the adjustment. The adjustment shall become effective on July 1 of each odd-numbered year.
c.]1 The exemptions provided in this section shall not apply if the judgment being enforced:
(1) arises from the purchase of the same property against which collection is sought; or
(2) is for child support; or
(3) is for the collection of taxes or assessments.
(Source: 2A:17-19)
2A:17B-7. Selection of exempt personal property.
a. In consultation with the collection officer, the judgment debtor may select any item or items of personal property whose aggregate value is not greater than the values allowed under section paragraph (3) of subsection a. of N.J.S.2A:17B-6. The selected item or items shall be exempt from levy. 1If the debtor fails to respond to notice within 10 days, and if the value of the property may exceed the statutory exemption, on application of the creditor, the court shall decide which property if any shall be exempt. The court ordinarily shall apply the exemption to personal goods before applying it to cash, bank deposits and similar financial property, and shall determine the order in which tangible property shall be sold.1
b. The collection officer shall prepare an inventory of the items of personal property selected for exemption by the judgment debtor and shall include an impartial and honest evaluation of each item inventoried. The value of an item shall be the price judged to be that for which the item would be sold at public sale. Copies of the inventory shall be given to the debtor and to creditor and to their counsel.
c. Within 10 days after receipt of the inventory, either the debtor or the creditor may dispute the value of any item in the inventory by notice to the other party by submitting a written statement under oath concerning the value and applying to the court to make a determination of the value of the items in dispute. The court may receive or require testimony or evidence, including expert appraisals as necessary to make its determination.
d. If neither party disputes the values in the inventory, the judgment debtor, on the basis of the inventory values, shall select items whose aggregate value is not greater than the values allowed under paragraph (3) of subsection a. of N.J.S.2A:17B-6. These items shall be exempt from levy. If either party disputes the values in the inventory, the judgment debtor, on the basis of the values determined by the court, shall select items whose aggregate value is not greater than the values allowed under paragraph (3) of subsection a. of N.J.S.2A:17B-6. These items shall be exempt from levy.
(Source: 2A:17-20 through 2A:17-28)
2A:17B-8. Receipt of collection orders.
The collection officer shall record on a collection order the date and time it was received.
(Source: 2A:17-11)
2A:17B-9. Judgment creditor's collection instructions.
a. A judgment creditor who obtains a collection order shall submit written instructions to the collection officer with the order.
b. The collection instructions shall contain a description of personal property to be levied against, by item, type or location sufficient to identify it for levy. If all property at particular premises occupied by the debtor is to be levied against, an instruction stating that shall be sufficient. The collection instructions shall contain a description of real property to be levied against sufficient to identify it. The instruction shall state whether the property is located in a dwelling.
c. The collection officer shall record on the collection instructions the date they were received.
d. The collection officer shall comply with the lawful written collection instructions of the judgment creditor 1[, except that the officer shall not levy against more items of property than necessary, in the judgment of the officer, to satisfy the judgment and pay costs]1.
e. The collection officer may levy against property of the judgment debtor subject to the collection order but not identified in the collection instructions of the judgment creditor, unless the instructions of the judgment creditor state otherwise.
(Source: New)
2A:17B-10. Levy against personal property in possession of judgment debtor.
a. A collection officer may levy against personal property in the possession of the judgment debtor in any of the following ways:
(1) by removing the property to a place of safekeeping;
(2) by installing a custodian in the place where the property is located to maintain custody over the property; or
(3) by any other reasonable means of obtaining possession or control of the property.
b. If the creditor agrees, the collection officer, in place of making a levy, may leave the property in the custody of the debtor until the sale. The collection officer shall list each item of property left in the custody of the debtor and give a copy of the list to the debtor and to the creditor. The debtor shall not intentionally damage or dispose of property left by the collection officer. This action by the collection officer shall be considered equivalent to a levy for the purpose of establishing the rights of the creditor as against other judgment creditors, but it shall not affect the rights of a person who, not knowing that the property is held pending public sale, purchases the property or acquires a lien for fair value.
(Source: 2A17-14)
2A:17B-11. Levy against personal property in a dwelling.
a. If the judgment creditor instructs the officer to levy against personal property located in the judgment debtor's dwelling place, the officer shall demand access to the property at the dwelling place where the property is located. At the time the demand is made the officer shall inform the judgment debtor that the judgment debtor may be liable for costs incurred in any further proceedings to obtain access to the property. If the judgment debtor does not allow access to the property upon demand of the collection officer, the officer shall promptly notify the judgment creditor of the failure to obtain custody of the property.
b. Whether or not a demand has been made pursuant to subsection a. of this section, the judgment creditor may apply to the court which issued the collection order for an order directing the collection officer to levy against a judgment debtor's property located in a dwelling place. An application for an order to seize property shall describe with particularity sufficient to identify them, both the property sought to be levied against, and the place where it is to be found, according to the best knowledge and belief of the judgment creditor. The court may not issue the order unless the judgment creditor establishes that there is probable cause to believe that the property to be levied against is located in the place described. At the time delivery of the property is demanded, the officer shall make known his or her purpose and authority, and shall announce that persons interfering with officers enforcing the order are subject to arrest for obstructing an officer.
(Source: New)
2A:17B-12. Levy against property in an inaccessible place.
a. If the judgment creditor instructs the officer to levy against personal property located in a place inaccessible to the collection officer, which is other than a dwelling place, the collection officer shall demand access to the property at the place where the property is located. At the time access to the property is demanded, the collection officer shall make known his or her identity, purpose, and authority, and shall announce that persons interfering with officers enforcing the order shall be subject to arrest for obstructing an officer.
b. If access to the property is not given, the collection officer may use force to obtain access to the property and may cause the place where the property is believed to be located to be opened in the
manner that the collection officer reasonably believes will cause the least damage.
(Source: New)
2A:17B-13. Levy against personal property in the custody of a third party.
a. If the judgment creditor instructs the collection officer to levy against personal property in the possession of a person other than the judgment debtor, the officer shall serve a copy of the collection order personally on the person who has possession of the property.
b. The service of the collection order shall be effective against:
(1) any personal property of the judgment debtor in the custody of the third party at the time of service; and
(2) any additional personal property which the judgment debtor becomes entitled to receive from the time of the levy to the time of the order directing that the property be turned over to the collection officer.
c. Service of the collection order on any office of a business shall be effective against any personal property of the judgment debtor of the business.
d. During the time the levy is in effect, the third party holding custody of personal property subject to the collection order shall hold the property pending order of the court and shall not honor any other demand for the property.
e. Any time within 30 days after levy, the creditor may make a motion pursuant to the Rules of Court for an order directing that the property be turned over to the collection officer.
(Source: 2A:17-58; 2A:17-63)
2A:17B-14. Service and mailing of notice of levy.
a. At the time the collection officer levies against property of a judgment debtor, the officer shall serve a copy of the order on the person who has custody of the property levied against; and
b. The collection officer shall mail a copy of the collection order and notice of levy on the same day:
(1) to the judgment debtor, if the order and notice have not been served upon the judgment debtor;
(2) to any person whom the officer actually knows may have
an interest in the property described in the notice; and
(3) to the attorneys for the judgment debtor and creditor.
c. A notice that specific property has been levied against shall contain a description of the specific property levied against, a statement of the debtor's right to exempt property from collection, and any other information required by the Rules of Court.
(Source: New)
2A:17B-15. Collection orders against earnings; earnings subject to collection orders.
a. At the request of a judgment creditor, the Superior Court shall issue either a collection order directing an employer to withhold a portion of a debtor's earnings, or a collection order to the debtor to make periodic payments to the creditor from earnings.
b. A collection order, other than a support order, against the earnings of a judgment debtor shall provide that 10% of gross earnings shall be taken unless the court finds that the needs of the debtor require that a lesser percentage be taken or allow a greater percentage to be taken. The amount to be withheld shall not exceed the amount allowed under section 303 of the Federal Consumer Credit Protection Act (15 U.S.C. sec. 1673).
(Source: 2A:17-50; 2A:17-56)
2A-17B-16. Priorities among collection orders against earnings.
a. If more than one collection order against the earnings of a judgment debtor is served on an employer,
(1) only one collection order against earnings shall be satisfied at one time;
(2) support orders shall be satisfied before other collection orders; and
(3) orders, other than support orders, shall be satisfied in the order in which they were served on the employer.
b. If a judgment debtor is subject to more than one collection order against earnings other than a support order, upon application by the debtor the court shall modify the amount of the later order so that the amount to be collected at any time on both orders other than support orders is not greater than 10% of gross earnings.
c. For purposes of N.J.S.2A:17B-14, N.J.S.2A:17B:-15 and this section:
(1) a collection order against the earnings of a judgment debtor includes any court order that requires that payments be made from the earnings of the judgment debtor whether the payments are to be made by the employer or by the judgment debtor;
(2) a support order is any order for the support of a child, spouse or former spouse or any order based on a claim for unpaid support for a child, spouse or former spouse.
(Source: 2A:17-52)
2A:17B-17. Payments under collection orders against earnings.
a. Any employer to whom a collection order against earnings is presented shall deduct from earnings owed the judgment debtor the amount prescribed in the order and pay the amount prescribed to the collection officer presenting the order. The employer may deduct a fee of no more than 5% to $5.00, whichever is less, from each payment, to compensate the employer for expenses. The judgment debtor shall bear the expense of the fee.
b. Any employer who fails to make payments required by a collection order against earnings shall be liable to the judgment
creditor for the payments.
(Source: 2A:17-53; 2A:17-56)
2A:17B-18. Collection order, lien on personal property.
a. A judgment creditor who files a collection order with a collection officer shall have a lien on any property of the debtor levied against by that officer from the time of levy.
b. A judgment creditor who has caused a levy to be made against the proceeds of the collection or sale of debtor's property levied against for another creditor shall have a lien on that property from the time of levy on the proceeds.
c. If more than one lien established by this section is applicable to an item of property, priority among the liens shall be governed by the same rules as those governing distribution of the proceeds of property which has been levied against to enforce a judgment.
d. A lien established by this section shall prevail over any subsequent transfer of an interest in the property.
(Source: 2A:17-10)
2A:17B-19. Sale or other disposition of property.
a. Cash shall be collected and applied to the satisfaction of the judgment as so much money collected, unless it has a value exceeding its face value, in which case it shall be sold.
b. The following property of a judgment debtor shall be collected and reduced to cash and applied to the satisfaction of the judgment in accordance with the instructions of the judgment creditor:
(1) instruments payable within the term of the collection order;
(2) any other rights to the payment of money.
c. Other property of a judgment debtor that has been levied against pursuant to a collection order shall be sold as provided in this chapter and proceeds applied to the payment of the judgment.
(Source: 2A:17-15; 2A17-16; 2A:17-17; 2A:17-19; 2A:17-61)
2A:17B-20. Property sold, manner.
a. Property that has been levied against may be sold by any method specified in a court order or agreed upon by the judgment creditor, the judgment debtor and any other party having an interest in the property.
b. In the absence of an order or agreement, that property shall be sold as follows:
(1) Personal property that has a readily ascertainable current value and that is normally sold in an established public market shall be sold in that market.
(2) All other property shall be sold by auction, pursuant to provisions governing public sales.
(Source: New)
2A:17B-21. Objections to sale or disposition of property.
a. Any person who claims an interest in property which has been levied against or who objects to the sale or other disposition of property which has been levied against may file a written objection to the sale or disposition with the clerk of the court which issued the collection order and deliver a copy of the objection to the collection officer.
b. The clerk shall notify the collection officer, the judgment creditor, and the attorney for the judgment creditor of any objections that have been received to the sale or other disposition. Upon receipt of notification of the objections, the collection officer shall not sell or dispose of the property until further order of the court.
(Source: 2A:17-29; 2A:17-31)
2A:17B-22. Priorities in distribution of proceeds.
The proceeds of property which has been levied against to collect a judgment shall be distributed in the following order:
a. to the judgment creditor for whom the property was levied against and sold;
b. if the sale is of personal property, to other judgment creditors who have levied against the proceeds of the sale;
c. to junior lienholders whose liens are extinguished by the sale;
d. to the debtor.
(Source: New)
2A:17B-23. Disputes over distribution of proceeds.
If a dispute arises concerning the application of either money collected or proceeds of a sale to the satisfaction of a judgment, the officer or any party with a right to the property to be distributed may apply to the court, on notice to the other parties whose property rights will be affected by resolution of the dispute, for an order directing the distribution of the money or proceeds.
(Source: 2A:17-6)
2A:17B-24. Return of collection order.
a. The collection officer shall file a return with the court which issued the collection order at the earliest of the following times:
(1) 1[immediately after receipt of the collection order,] 30 days after notice to the judgment creditor1 if no written instructions have been received from the judgment creditor.
(2) 30 days after notice to the judgment creditor unless directed otherwise.
(3) immediately after a request in writing for a return by the judgment creditor.
(4) 12 months after the date of the issuance of the collection order against property.
(5) immediately after a collection order is satisfied.
b. The return filed by the levying officer shall include:
(1) A statement of the amount collected, if any, and the time when it was collected and remitted to the judgment creditor; and
(2) An itemized bill of costs and fees.
(Source: 2A:17-9; 2A:18-27)
3. An additional chapter, chapter 17C, is added to Title 2A as follows:
TITLE 2A
CHAPTER 17C
FORECLOSURE
2A:17C-1. Notice of Intention to Foreclose a Residential
Mortgage.
2A:17C-2. Notice of Right to Cure Default.
2A:17C-3. Curing Default.
2A:17C-4. Action Necessary for Foreclosure; Sale Pending
Foreclosure.
2A:17C-5. When Foreclosure is required Before Action on
Debt.
2A:17C-6. Deficiency Action.
2A:17C-7. Sale.
2A:17C-8. Proceeds.
2A:17C-9. Strict Foreclosure.
2A:17C-1. Notice of intention to foreclose residential mortgage.
a. As used in this chapter, a "residential mortgage" means a mortgage of a one-, two-, three-, or four-family dwelling in which the owner or the owner's immediate family resides when the notice of intention to foreclose is sent.
b. Before a plaintiff may commence foreclosure of a residential mortgage, the plaintiff shall give the debtor written notice of intention to foreclose at least 30 days in advance.
c. Notice of intention shall be sent by registered or certified mail, return receipt requested, to the debtor's last known address, and, if different, to the address of the mortgaged property. If the return receipt is not returned to the sender within 15 days, notice shall be made by ordinary first class mail.
d. The notice of intention shall state:
(1) the mortgage obligation;
(2) the nature of the default claimed, and the name and address of the mortgage holder and telephone number of the mortgage holder's representative whom the debtor may contact to dispute the claimed default or the amount required to cure the default;
(3) the debtor's right to cure the default;
(4) what action the debtor must make to cure the default;
(5) the date, at least 30 days after notice is given, by which the debtor shall cure the default to avoid commencement of foreclosure, and the name, address and telephone number of the person to receive payment;
(6) that upon the debtor's failure to cure default by the specified date, the mortgage holder may commence foreclosure; and
(7) that the debtor may also have the right to cure a default prior to entry of final judgment.
e. Compliance with this section shall be stated in a foreclosure action complaint.
(Source: New)
2A:17C-2. Notice of right to cure default.
a. If an action to foreclose a mortgage is uncontested, a mortgage holder shall apply for entry of final judgment and provide the debtor with a notice mailed at least 16 days before submission of proofs for entry of a foreclosure judgment advising that:
(1) absent a response from the debtor, the mortgage holder will submit proof for entry of final judgment; and
(2) upon entry of final judgment, the debtor will lose the right to cure the default.
b. Within 8 days of receiving notice, the debtor may send the mortgage holder by registered or certified mail, return receipt requested, and file with the court, a statement certifying that there is a reasonable likelihood of the debtor's curing the default within 45 days of the date the notice was received, or if the notice was sent by ordinary mail, the date the notice was mailed.
c. A mortgage holder who receives a statement from the debtor shall not submit proofs for entry of final judgment in foreclosure with a return date earlier than 46 days after the notice was received, or if the notice was sent by ordinary mail, the date the notice was mailed.
(Source: New)
2A:17C-3. Curing default.
a. At any time before entry of final judgment, 1[not later than 30 days after mailing of the notice of default,]1 the debtor shall have the right to cure a default by:
(1) paying all sums which would have been due in the absence of default at the time of payment, any court costs and attorney's fees, and contractual late charges, and
(2) performing any obligation which the debtor would have been bound to perform in the absence of default.
b. If default is cured prior to the filing of a foreclosure action, the mortgage holder shall not bring a foreclosure action. If default is cured after the filing of a foreclosure action, the mortgage holder shall give written notice of the cure to the court which shall dismiss the action without prejudice.
c. A debtor does not have the right to cure a default after an action for foreclosure has been filed:
(1) on a residential mortgage if the default occurs within 18 months of the previous cure unless the cure occurs within 30 days after service of the notice of intention; and
(2) on a commercial mortgage if the default occurs within 24 months of the previous cure unless the cure occurs within 30 days
after the mortgage holder has notified the debtor in writing that default has occurred.
(Source: New)
2A:17C-4. Action necessary for foreclosure; sale pending foreclosure.
a. 1[A] Except as specifically authorized by other statutes, a.1 mortgage may be foreclosed only by a civil action.
b. If the court determines that the mortgage is valid and that the plaintiff has the right under the mortgage to foreclose, it shall enter judgment ordering the property sold in whole or in sufficient part and stating the amount due on the debt secured by the mortgage.
c. The court shall enter summary judgment of foreclosure, if:
(1) the mortgage is not a residential mortgage as defined in this chapter,
(2) the debtor has not made a payment of principal or interest when due under the term of the mortgage as recorded, and
(3) the debtor has not cured the default as allowed by this chapter. The debtor's defenses or counterclaims shall not affect the creditor's right to summary judgment of foreclosure.
d. A foreclosure judgment shall be a binding determination of the amount due on the debt secured by the mortgage but it may be enforced only by sale of the mortgaged property and not as a money judgment.
e. When mortgaged property is likely to deteriorate in value pending determination of the action, the court, before judgment, upon application of any party, may order the sale of the property, and the deposit in court of the proceeds to be distributed after judgment.
f. The owner of the property that is the subject of a foreclosure judgment may redeem the property by paying the amount due on the debt secured by the mortgage plus applicable fees and costs:
(1) at any time up to ten days after the sale; or
(2) if objections to the sale are filed, until an order confirming the sale.
(Source: New; 2A:50-1; 2A:50-31; 2A:50-36)
2A:17C-5. When foreclosure is required before action on debt.
a. A holder of a residential mortgage may bring an action to collect the debt secured by the mortgage only by foreclosure. After foreclosure, the mortgage holder may bring an action for deficiency. However, a residential mortgage holder is not bound by this subsection if:
(1) the residential mortgage is subject to a prior mortgage held by a different person; or
(2) the mortgage is not the primary security for the debt.
b. A mortgage holder may enforce a contract of a surety or guarantor to pay the debt and mortgage other than one that is subject to a prior mortgage held by a different person only by bringing an action for foreclosure that joins the surety or guarantor. After foreclosure, a mortgage holder may bring an action against the surety or guarantor for the deficiency.
c. A mortgage holder who is not required by this section to foreclose the mortgage before bringing an action to collect the debt may:
(1) use the procedure of this section, or
(2) bring an action to collect the debt before, or joined with, a foreclosure action.
(Source: 2A:50-2; 2A:50-2.3; 2A:50-22)
2A:17C-6. Deficiency action.
a. 1[Deficiency] If law requires that collection of a debt securred by mortgage be by foreclosure followed by a deficiency action, the deficiency1 action 1[on a debt secured by mortgage that has been foreclosed]1:
(1) may be brought by the mortgage holder only within three months after the foreclosure sale or confirmation of sale;
(2) may be brought against a person answerable on a bond or note only if the person was a party in the foreclosure action.
b. A deficiency action on a debt secured by mortgage that has been extinguished by the foreclosure of a prior mortgage:
(1) may be brought by the mortgage holder only within one year after the foreclosure sale or confirmation of sale; and
(2) shall not open the foreclosure and sale of the mortgaged premises nor result in a right of redemption.
c. If a defendant in the defiency action disputes the amount of the deficiency, the court shall determine the amount of deficiency by deducting the fair market value of the mortgaged property at the time of the foreclosure sale from the amount of the debt, interest and costs. The court shall determine the fair market value from evidence submitted by the parties, or, upon agreement of all parties, the court may accept the value which three appraisers fix as the fair market value.
(Source: 2A:50-2; 2A:50-2.1; 2A:50-3; 2A:50-8; 2A:50-9)
2A:17C-6. Deficiency action.
a. 1[Deficiency] If law requires that collection of a debt securred by mortgage be by foreclosure followed by a deficiency action, the deficiency1 action 1[on a debt secured by mortgage that has been foreclosed]1:
(1) may be brought by the mortgage holder only within three months after the foreclosure sale or confirmation of sale;
(2) may be brought against a person answerable on a bond or note only if the person was a party in the foreclosure action.
b. A deficiency action on a debt secured by mortgage that has been extinguished by the foreclosure of a prior mortgage:
(1) may be brought by the mortgage holder only within one year after the foreclosure sale or confirmation of sale; and
(2) shall not open the foreclosure and sale of the mortgaged premises nor result in a right of redemption.
c. If a defendant in the defiency action disputes the amount of the deficiency, the court shall determine the amount of deficiency by deducting the fair market value of the mortgaged property at the time of the foreclosure sale from the amount of the debt, interest and costs. The court shall determine the fair market value from evidence submitted by the parties, or, upon agreement of all parties, the court may accept the value which three appraisers fix as the fair market value.
(Source: 2A:50-2; 2A:50-2.1; 2A:50-3; 2A:50-8; 2A:50-9)
2A:17C-7. Sale.
a. Without further court order, a judgment of foreclosure shall authorize sale of the property.
b. If the judgment does not specify otherwise, the sale shall be conducted by the sheriff of the county in which the property is located. If the sheriff cannot effect the sale within 45 days after receiving the judgment, or if there is other good cause, the court may appoint a special referee to conduct the sale. If the sheriff is restrained from conducting the sale by bankruptcy proceedings or court order, the same restraint shall not be counted in determining the 45-day period.
c. Whether the sale is conducted by the sheriff, or a special referee, the terms of sale and the fees and costs chargeable for the sale shall be those provided by law for public sales.
d. If the mortgage debtor agrees, or if the mortgage is not a residential mortgage and the mortgage provides for private sale, or if the court finds from affidavits submitted that the mortgage debtor has abandoned the mortgaged property or that the amount of the plaintiff's judgment is at least 92% of the current value of the property, the court shall order that the plaintiff may sell the property privately in any commercially reasonable manner. After sale, the plaintiff shall pay the part of the proceeds that exceeds the judgment and the cost of sale into court for distribution as provided in this chapter.
e. The interests in the property that shall be sold are the interests of the mortgage debtor and of the mortgage holder. The property shall be sold free of any liens that are: (1) subordinate to the lien of the mortgage holder, and (2) that were held by defendants in the foreclosure action or that attached to the property after the commencement of the foreclosure action and the filing of the notice of pending action. The property shall also be sold free of any liens or interests that could have been recorded in the office of the register of deeds or county clerk but were not recorded there.
(Source: New; 2A:50-19; 2A:50-30; 2A:50-37)
2A:17C-8. Proceeds.
a. After sale of the property, the proceeds shall be applied as follows:
(1) to pay the fees and costs of sale;
(2) to pay the amount specified in the judgment of foreclosure as due on the mortgage foreclosed;
(3) to pay the amount necessary to satisfy any other liens that were on the property at the time of the commencement of the foreclosure action and were extinguished by the foreclosure;
(4) to pay the amount necessary to satisfy any other liens extinguished by the foreclosure;
(5) to the owners of the property in proportion to their interests in the property;
(6) to the debtor.
b. If there is more than one owner of the property and there are liens that affect the interests of only certain of the owners, the payment of the amounts necessary to satisfy those liens shall not reduce the proceeds paid to the other owners.
(Source: 2A:50-34; 2A:50-37)
2A:17C-9. Strict foreclosure.
A good faith purchaser at a foreclosure sale may bring an action to compel a person 1[holding] having an interest in the mortgaged premises1 a lien subordinate to the foreclosed lien to redeem its mortgage or be foreclosed of the equity of redemption, if the subordinate 1interest or1 lien would not have entitled the lienholder to any proceeds even if joined in the original foreclosure action and if through inadvertence, it was not extinguished by the foreclosure.
(Source: New)
4. An additional chapter, chapter 17D, is added to Title 2A as follows:
TITLE 2A
CHAPTER 17D
PUBLIC SALES
2A:17D-1. Public Sales; Authority.
2A:17D-2. Statement of Prior Encumbrances.
2A:17D-3. Notice of Pending Sale.
2A:17D-4. Contents of Notice of Pending Sale.
2A:17D-5. Advertisement of Sales; Publication.
2A:17D-6. Notice of Date, Time and Place of Public Sale.
2A:17D-7. Adjournments.
2A:17D-8. Conditions of Sale of Real Property.
2A:17D-9. Conditions of Sale of Personal Property.
2A:17D-10. Objections to Sale; Confirmation of Sale.
2A:17D-11. Delivery by Deed.
2A:17D-12. Form of Sheriff's Deed.
2A:17D-13. Delivery by Certificate of Title.
2A:17D-14. Delivery of Personal Property Not Requiring Certificate
of Title.
2A:17D-1. Public Sales; Authority.
Where a public sale is ordered or required by statute, the sheriff or the person to whom the order is directed shall make the sale pursuant to this chapter and court order, and shall execute, as the case requires, a deed or certificate of title for the property sold.
(Source: 2A:50-19; 2A:50-37)
2A:17D-2. Statement of prior encumbrances.
The sheriff or other person authorized shall not conduct a public sale of real property before receipt of the affidavit required by Section 1 of P.L.1979, c.225 (C.46:15-6.1) listing all liens and encumbrances that will affect the property after the sale and the current balance of each. The sheriff shall make the contents of the affidavit available to any person requesting it.
(Source: C.46:15-6.1)
2A:17D-3. Notice of pending sale.
a. A person who has obtained an order directing a public sale of real property, in an action as to which no notice of pending action has been filed, shall file a notice of pending sale in the office of the county clerk or register of deeds and mortgages of the county in which the property is located.
b. A notice of pending sale filed in the office of the county clerk or register of deeds and mortgages of the county in which the property is located shall be notice of the pendency of a public sale of the property to any person who acquires an interest in, or lien on, the property after the filing of the notice.
c. Notices of pending sale of real property shall be filed and indexed in the office of the county clerk or register of deeds and mortgages in the same manner as notices of pending action, and the fee for filing such notices shall be the same as the fee for filing a notice of pending action.
d. A notice of pending sale filed or posted pursuant to this section shall expire one year from the date of the issuance of the order directing the public sale, or upon the return of the enforcement order by the officer to the court that issues the order, whichever is earlier. A notice of pending sale may be extended for periods of one year if an extension notice is filed prior to the expiration of the original notice or any previous one year extension of the original notice.
(Source: New)
2A:17D-4. Contents of notice of pending sale.
A copy of the order directing the public sale of real property shall be appended to the notice of pending sale. The notice shall contain:
a. A statement that the property is subject to sale at any time after the expiration of 30 days from the date of filing and mailing the notice;
b. A description of the property sufficient to identify it; and
c. A statement of the approximate amount of the judgment or order to be satisfied by the sale.
(Source: New)
2A:17D-5. Advertisement of sales; publication.
a. The sheriff or other person authorized to conduct a public sale shall:
(1) post a notice of the sale in the office of the sheriff at least 10 days before the sale date;
(2) in the case of real property, publish the notice of sale once, between 10 and 20 days before first date scheduled for the sale, in two newspapers:
(a) both published in the county where the property is located, and one published in the county seat of the municipality with the largest population in the county if a newspaper is published in either such municipality; or
(b) both circulating in the county, and one published in the county, if only one newspaper is published in the county; or
(c) both circulating in the county, if no newspapers are published in the county; and
(3) make copies of notices of sale available to members of the public on request.
b. The notice of sale in the case of real property shall:
(1) state the terms of sale;
(2) state the amount of the judgment or order to be satisfied by the sale;
(3) include either a diagram or concise statement describing the property, and if practicable, the street and number of the property; and give the location of the full legal description of the property.
c. The following form may be used as notice of sale of real property:
PUBLIC AUCTION OF PREMISES
shall occur at the Office of the _____________ County Sheriff,________________________(address & phone) at __________(time), on ___________(date), of the following premises:
Address:________________________________________________
Municipality:___________________Tax lot number:_____________
Nearest cross street:_______________________________________
Concise characterization (Approx. dimensions, number of rooms, etc):
_______________________________________________________
_______________________________________________________
By order of the Superior Court, _________Division, in the case of:
_________________________, v. __________________________,
Case number: ____________; approximate amount due: $________,
plus Sheriff's fees.
At sale, the purchaser must pay 10% deposit. Within 30 days after sale, the purchaser must pay the balance due. Both payments must be in cash or certified or cashier's check.
Copies of the full legal description of the property and Conditions of Sale set by statute (N.J.S. ) are available in the Sheriff's Office.
The Sheriff may adjourn this sale without further notice by publication.
Attorney for Plaintiff: (name, address, telephone)________________
_______________________________________________________
d. The notice of sale in the case of personal property shall:
(1) state the terms of sale;
(2) state the amount of the judgment or order to be satisfied by the sale;
(3) include a description of the property sufficient to identify it; and
(4) if the property to be sold required a certificate of title, give the registration number and legal description of the property along with the location of the office where the certificate is registered.
e. The sheriff or other person authorized to conduct a public sale may advertise the sale in any manner reasonably calculated to increase the price of the property to be sold. The cost of advertisement authorized by this subsection shall not be charged against the sale price as a cost of sale.
(Source: 2A:17-33; 2A:17-34; 2A: 61-1)
2A:17D-6. Notice of date, time and place of public sale.
a. At least 10 days before a public sale 1[of real property]1, a creditor for whose benefit the property is to be sold shall send notice of the date, time and place of the sale by registered or certified mail, return receipt requested to 1[any person who had an interest or lien in the subject property that was of record 14 days before the date first scheduled for the sale] the debtor1. If the creditor knows that a person who is sent notice is represented by an attorney, the creditor also shall send a copy of the notice to the attorney by ordinary mail. 1[If the sale is adjourned more than 30 days from the date first scheduled for the sale, the creditor shall also send notice to any person who had an interest or lien in the subject property that was of record 14 days before the new date scheduled for the sale.]1
b. 1[At least 20 days before a public sale of personal property, a creditor for whose benefit the property is to be sold shall send notice of the date, time and place of the sale by registered or certified mail, return receipt requested to any person whom the creditor knows had an interest or lien in the subject property on the date the notice of pending sale was filed. If the creditor knows that a person who is sent notice is represented by an attorney, the creditor also shall send a copy of the notice to the attorney by ordinary mail.
c.]1 The notice shall be mailed to the current address of the person, if it is known or reasonably ascertainable, or to the party's last know address of record. The notice shall include a description of the property sufficient to identify it and a statement of the approximate amount of the judgment or order to be satisfied by the sale.
1[d. Notice need not be sent to a public entity.]1
(Source: New)
2A:17D-7. Adjournments.
a. The sheriff or other person authorized to make the sale may allow two adjournments of sale of no more than 14 days each at the judgment debtor's request.
b. The sheriff or other person authorized to make the sale may allow adjournments of sale at the judgment creditor's request.
c. The sheriff or other person authorized to make the sale may charge a fee authorized by law for adjournments.
(Source: 2A:17-36; 2A:61-5; 2A: 61-6)
2A:17D-8. Conditions of sale of real property.
a. The following conditions shall apply in all public sales of real property:
(1) The property shall be sold subject to interests and restrictions of record, rights of tenants, rights of redemption of the debtor or of the federal government, unpaid taxes, assessments or condominium charges, and any facts that an accurate survey or an inspection of the property would disclose.
(2) The property shall be sold at auction to the highest bidder. The person conducting the sale shall accept, in addition to oral bids, written bids for a fixed amount accompanied by the required purchaser's deposit and a signed agreement to comply with all conditions of sale. If dispute arises regarding who has made the highest bid, the property will be resold immediately.
(3) At the close of sale, the purchaser shall
(a) pay 10% of the purchase price in cash or by certified, cashier's or treasurer's check, unless the purchaser is the foreclosing party in a foreclosure procedure; and
(b) sign an agreement to comply with all conditions of sale and deliver the agreement to the person conducting the sale.
(4) If the purchaser is required to pay the 10% deposit, and does not pay it, or if the purchaser does not sign the Conditions of Sale, the person conducting the sale shall immediately resell the property without further public advertisement.
(5) Within 30 days after sale, the purchaser shall pay the balance of the purchase price and interest at the lawful rate on the balance due, from the 11th day after sale, until the balance is paid.
(6) The fees and commissions of the person conducting the sale are included in the amount bid and will be deducted to determine the purchase price.
b. If the purchaser fails to pay the balance of the sale price within 30 days and the time for payment has not been extended by the creditor, the property shall be sold a second time.
c. The purchaser may decline to complete the sale and may reclaim the deposit if there is a lien or encumbrance on the property that was not listed in the affidavit required to be filed before the sale by Section 1 of P.L.1979, c.225 (C.46:15-6.1). Otherwise, a purchaser who fails to pay the balance of the sale price within 30 days shall be responsible for expenses of the second sale and any difference between the first and second sale price, and the sheriff or other authorized person shall retain the deposit to be disbursed by court order.
(Source: New)
2A:17D-9. Conditions of sale of personal property.
The following conditions shall apply in all public sales of personal property:
a. The property shall be sold as it is at the time of sale and subject to interests and restrictions of record.
b. The property shall be sold at auction to the highest bidder. The person conducting the sale shall accept, in addition to oral bids, written bids for a fixed amount accompanied by the required purchaser's deposit and signed agreement to comply with all conditions of sale. If dispute arises regarding who has made the highest bid, the property will be resold immediately.
c. At the close of sale, the purchaser shall pay the purchase price immediately in cash or by certified, cashier's or treasurer's check unless the creditor agrees to another schedule or mode of payment. If the creditor allows another schedule or mode of payment, the creditor shall be responsible for payment if the purchaser fails to pay as agreed.
d. If there is no agreement that allows another schedule or mode of payment and the purchaser does not pay the purchase price at the close of sale, the person conducting the sale shall immediately resell the property without further public advertisement.
e. The fees and commissions of the person conducting the sale are included in the amount bid and will be deducted to determine the purchase price.
(Source: New)
2A:17D-10. Objections to sale; confirmations of sale.
a. A person who objects to a public sale of real property shall file that objection with the Superior Court and with the person who conducted the sale within 10 days after the sale or any time thereafter before delivery of the deed.
b. If the sale was not conducted by the sheriff, the person who conducted the sale shall apply to the Superior Court for confirmation of the sale.
c. If the court approves the sale, it may confirm the sale as valid and direct the sheriff or clerk of the court to deliver a deed.
2A:17D-11. Delivery by deed.
a. In the case of a public sale of real property, the purchaser shall prepare a deed to the property sold and present it to the sheriff if the property was sold by the sheriff and otherwise to the clerk of the court under which authority the property was sold. The sheriff or clerk shall execute the deed if, after examination, the sheriff or clerk determines;
(1) that the purchaser has paid the balance of the purchase price and interest on the balance due, from the 11th day after sale;
(2) that the deed complies with this section;
(3) that the sale has not been set aside by a court and no objection to the sale is pending;
(4) that, if the sale was not conducted by the sheriff, the sale was confirmed by the court; and
(5) if redemption of the property is permitted by law, that the time for redemption has passed and that the property has not been redeemed.
b. The deed shall state the person whose interest in the real estate was sold and the execution or other legal proceeding for which the real estate was sold.
c. The purchaser shall pay the cost of preparing and recording the deed and any realty transfer tax.
d. The sheriff shall attach a copy of the affidavit required by Section 1 of P.L.1979, c.225 (C.46:15-6.1) to the deed.
e. A deed executed pursuant to this action shall transfer all interests of the execution defendant in the same manner as a deed by that person to a purchaser for value. The deed shall extinguish any lien resulting from the judgment executed and any lien subordinate to that lien.
(Source: 2A:17-40; 2A:17-41; 2A:50-37.)
2A:17D-12. Form of sheriff's deed.
A sheriff's deed may be substantially in the following form:
DEED
Prepared by:_________________
From:_________________Sheriff of__________County, New Jersey
To:____________________________________________________
Address:________________________________________________
Dated:__________________________________________________
In compliance with an order of New Jersey Superior Court, ______Division,____________County, dated_________in the case of
_________________________________________________, Plaintiff
v. ____________________________________________, Defendant.
Docket number:___________________________
By this deed, I._____________________, Sheriff of_____________
County, New Jersey transfer ownership of all interest of the following parties:_________________________________________________
_______________________________________________________
in premises described as:
[insert legal description]
constituting block_______, lot________
in the municipality of_________________, county of_____________
including any property attached to the premises of rights to related to it, and subject to restrictions of record or restrictions that would be disclosed by a survey of the premises and the following restriction:
________________________________________________________
_______________________________________________________
for the sum of_______________which I have received.
This sale which occurred on _______________________was advertised and conducted in accordance with law.
_________________________, Sheriff,
_________________________, County
_________________________, date
State of New Jersey:
County of_________:
On ______________, __________________, Sheriff of __________
County, New Jersey personally appeared before me and acknowledged that this deed was executed voluntarily as the sheriff's own act and swore that the facts alleged in it are true.
_______________________________
_______________________________
(Source: New)
2A:17D-13. Delivery by certificate of title.
a. In the case of a public sale of personal property which is required by law to be registered under a certificate of title, the sheriff or officer authorized to conduct the sale shall, prior to the time of the sale:
(1) forward a copy of the order authorizing the sale to the office where the certificate of title is registered; and
(2) request a certificate authorizing the sheriff or officer to transfer title by public sale.
b. Upon payment of the full purchase price, the sheriff or officer shall endorse the certificate to assign ownership to the purchaser and deliver it to the purchaser.
c. A certificate executed pursuant to this section shall transfer all interests of the judgment creditor in the same manner as a certificate of ownership endorsed by that person to a purchaser for value. It shall extinguish any lien resulting from the judgment enforced by the public sale and any lien subordinate to that lien.
(Source: New)
2A:17D-14. Delivery of personal property not requiring certificate of title.
In the case of public sale of personal property which does not require a certificate of title, after payment of the full purchase price the sheriff or officer authorized to conduct the sale shall allow the purchaser to take possession of the property.
(Source: New)
5. The following are repealed:
New Jersey Statutes sections:
N.J.S.2A:15-6 to 2A:15-17, inclusive;
N.J.S.2A:17-1 to N.J.S.2A:17-64, inclusive;
N.J.S.2A:50-1 to N.J.S.2A:50-52; inclusive.
N.J.S.2A:61-1 to 2A:61-6; 1inclusive1
N.J.S.2A:61-8 to 2A:61-13; 1inclusive1
N.J.S.2A:61-16.
Pamphlet Laws:
Laws of 1981, c.203, ss.3 and 4 (C.2A:17-56.1a. and C.2A:17- 56.6);
Laws of 1979, c.286, ss.11-14 (C.2A:50-2.1 to 2A:50-2.4, inclusive)1;
Laws of 1995, c.244, ss. 1 to 13 (C.2A:50-53 to 2A:50-65, inclusive);
Laws of 1995, c.244, s.15 (C.2A:50-66);
Laws of 1995, c.244, ss.17 and 18 (C.2A:50-67 and C.2A:50- 68)1.
6. This act shall take effect 60 days following enactment.
Revises present statutes dealing with procedures in civil actions relating to notice of pending actions, collection of judgments, foreclosures and public sales.