New Jersey § acts:saved-48 - (1)

§ acts:saved-48. (1)

1. Whenever a railroad corporation of an adjoining state owning, operating or connecting

with any railroad lying within this state, has heretofore executed a mortgage upon

its railroad, and in pursuance thereof a sale of the mortgaged premises has been heretofore

adjudged and decreed by a court of competent jurisdiction or by a circuit court of

the United States, in the state or states in which the greater part of the mortgaged

premises are or shall be situated, and such sale accordingly has been heretofore made

in such a state or states, and such judgment or decree and the sale thereunder have

been heretofore approved and confirmed by the court of chancery of this state or by

the circuit court of the United States in and for the district of New Jersey, the

purchasers under such sale and their assigns shall own and be entitled to possess,

enjoy and operate all of the railroads, with their appurtenances and the franchises

and other property and rights lying in this state and comprised within such mortgage,

with the same force and effect as if such sale had been duly made under a judgment

or decree in a suit or proceedings originally begun and prosecuted to decree in the

court of chancery of this state, or in the circuit court of the United States in and

for the district of New Jersey.