54:5-111.1 - Certificate of cancellation; execution - New Jersey Statutes

54:5-111.1.  Certificate of cancellation;  execution    When a municipality has or shall have acquired a lien, against any lands in  this State, or against any interest, right, title or estate therein, by tax,  assessment or sale for taxes, assessments, or other municipal charges and has  or shall have become the purchaser at a tax sale, held to enforce the collection of such lien, and has or shall have become the holder of the certificate of such tax sale, and has or shall have acquired said lands or any right, title, interest or estate therein and the equity of redemption thereof, by purchase or otherwise, without having taken or completed proceedings to enforce such lien or to foreclose the right of redemption, the governing body of the municipality, may, by resolution, authorize and direct such officer or officers of the municipality, as shall be designated in the resolution, to execute a certificate of cancellation of the lien and of the certificate of tax  sale which certificate shall recite the acquisition in lieu of enforcement and  foreclosure.  Such certificate of cancellation may be made by an endorsement  upon the certificate of tax sale which is to be canceled.

     L.1945, c. 154, p. 541, s. 1.