New Jersey § acts:saved-15 - (8)

§ acts:saved-15. (8)

8. That all assessments which shall be assessed by any company formed in pursuance of

this act, upon any lands included in said company, shall remain a lien thereon from

the time of filing of such assessment as aforesaid until paid or otherwise satisfied,

notwithstanding any subsequent descent, demise, alienation, mortgage or other incumbrance

thereof; and if the full amount of any such assessment shall not be paid and satisfied

within the time limited and appointed for the payment thereof, it shall and may be

lawful for the managers of any such company, or the majority of them, to cause the

said lands, or such parts thereof as they shall think proper, to be sold at public

auction for the shortest term which any person will agree to take the same and pay

such assessment or the balance thereof remaining unpaid, with interest thereon, and

all costs, charges and expenses, including costs of advertising, selling and executing

the deeds, and to make and execute, under the seal of the company, and deliver to

the purchaser a deed for the same; and such purchaser, his, her or their legal representatives,

shall, by virtue thereof, lawfully hold and enjoy the said lands for his, her or their

own use, against the owner or owners thereof, and all persons claiming under him,

them or any of them, until his, her or their term therein shall be completed and ended,

and shall be at liberty, at or before the end of his, her or their term, to remove

any building or buildings and materials erected and placed thereon by him, her or

them, and when said term shall have been ended, shall peaceably and quietly yield

up the said lands to the legal owner or owners thereof, in as good condition as when

he, she or they took possession of the same, damage resulting from ordinary use and

the elements excepted.