NJ

Registry entries (prose)

Sale typeWhat you actually buy. A lien sale gives you a claim on the property and the owner keeps it for now; a deed sale transfers the property itself. A redeemable deed transfers ownership but still gives the former owner time to pay you back. See the full glossary for more terms.

lien

Interest / penaltyWhat you earn when the owner redeems. Interest is a rate paid over time; a penalty is usually a one-time percentage of the tax or redemption amount. A rate that is bid down during the auction is still interest. See the full glossary for more terms.

up to 18%/yr bid-down (N.J.S.A. 54:5-32); year-end penalty up to 6% (54:4-67)

RedemptionHow long the former owner has to repay the debt and keep the property after the sale. Your money stays tied up until this window closes, so a long period can mean a multi-year wait on a lien. See the full glossary for more terms.

2 years from date of sale before foreclosure (N.J.S.A. 54:5-86)

Bid methodHow the winner is chosen: bidding the interest rate down, bidding a premium above the amount owed, a random or rotating draw, or simply buying at the minimum bid. See the full glossary for more terms.

bid down to lowest rate of interest, not to exceed 18%/yr

Sale timingWhen sales are typically held. Many counties publish sale lists only a few weeks ahead, and some sell continuously or on their own schedule. See the full glossary for more terms.

varies by municipality (standard sale in the fiscal year following arrears; accelerated sale in the last month of the fiscal year) (N.J.S.A. 54:5-19)

Source

https://lis.njleg.state.nj.us/nxt/gateway.dll/statutes/1?f=templates&fn=default.htm&vid=Publish%3A10.1048%2FEnu

Tax sale certificate (lien). Official NJ Legislature LIS statutes portal; mechanics per N.J.S.A. 54:5-19, -32, -86 and NJ DLGS guidance.

Counties (21)