New Jersey § 2a:42-136

§ 2a:42-136.

Upon approval by the court, the receiver shall sell the property on such terms and

at such price as the court shall approve, and may place the proceeds of sale in escrow

with the court, except that unpaid municipal liens shall be paid from the proceeds

of the sale. The court shall order a distribution of the proceeds of sale after paying court

costs in the following order of priority: a. The reasonable costs and expenses of sale actually incurred; b. Municipal liens pursuant to R.S.54:5-9 ; c. Repayment of principal and interest on any borrowing or indebtedness incurred by

the receiver and granted priority lien status pursuant to subsection c. of section

17 of P.L.2003, c. 295 ( C.2A:42-130 ); d. Other valid liens and security interests, including governmental liens, in accordance

with their priority, including any costs and expenses incurred by the municipality

as a receiver, but with respect to non-governmental liens, those duly recorded prior

to the filing of the lis pendens notice by the receiver; e. Any fees and expenses of the receiver not otherwise reimbursed during the pendency

of the receivership in connection with the sale or the operation, maintenance and

improvement of the building and documented by the receiver as set forth in paragraph

(7) of subsection d. of section 16 of P.L.2003, c. 295 ( C.2A:42-129 ); f. Any costs and expenses incurred by parties in interest in petitioning the court

for receivership; and g. Any accounts payable or other unpaid obligations to third parties from the receivership. Those proceeds which remain after the distribution set forth in subsections a. through

g. of this section shall be remitted to the owner.