35. A relative of a homeowner that has a property in tax sale is permitted to bid on this property at the tax sale if their name is not on the deed.
Answer: FALSE
AI:
A NJ tax sale is generally open to anyone except:
Municipal insiders
People who owe taxes in that town
Anyone bidding through a prohibited person
CHAPTER 3
28. The tax sale notice must be sent to any party of interest who has filed what is known as a 'five year notice' for foreclosure actions.
CHAPTER 13
23. Any person who holds a mortgage is entitled to file notice with the Tax Collector. This is commonly known as a Letter of Interest(5 Year Letter).
These all are the same.
- five year notice
- Letter of Interest
- 5 Year Letter
CHAPTER 3
4. Where there is an agreement by resolution to omit from the tax sale unpaid taxes upon which regular equal, monthly installment payments are being made, said agreement cannot exceed 5 years.
CHAPTER 7-8
2. This plan provides for payment in equal, monthly installments, and may not exceed a period of 3 years.
- 5 years before the sale, 3 years after the sale (redemption)
62. redemption in installments may not exceed a period of __________ years.
- A) Three
151. Where there is an agreement by resolution to omit from the tax sale unpaid taxes upon which regular monthly installment payments are being made, said agreement cannot exceed three years.
Answer: FALSE
86. A tax sale certificate that is struck off to the municipality should be recorded.
Answer: FALSE - Should be TRUE
92. The tax collector is not responsible to prepare the In rem foreclosure list.
Answer: FALSE ( The tax collector is responsible to prepare the foreclosure list )
105. The municipal attorney prepares the In rem foreclosure list.
Answer: FALSE
106. A tax sale certificate may never be sold for more than the amount advertised in the tax sale notice of sale.
Answer: FALSE ( If it is adjourned there will be more interest )
155. At or before the tax sale, the Collector shall attach to the tax list a copy of the notice of sale and an affidavit of posting, advertising and mailing.
Answer: TRUE
"tax list" should be "tax sale list"