N.J.S.A. 2A:56-55 — Appointed broker, sale of heirs property, open-market sale.

2A:56-55 Appointed broker, sale of heirs property, open-market sale. 11. a. Unless otherwise required to do so within a shorter time, a broker appointed under subsection b. of section 10 of this act to offer heirs property by open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under section 6 or 10 of this act. b. The report required by subsection a. of this section shall contain the following information: (1) A description of the property to be sold to each buyer; (2) The name of each buyer; (3) The proposed purchase price; (4) The terms and conditions of the proposed sale, including the terms of any owner financing; (5) The amounts to be paid to lienholders; (6) A statement of contractual or other arrangements or conditions of the broker's commission; and (7) Any other material facts relevant to the sale. L.2025, c.88, s.11.

This is the verbatim text of N.J.S.A. 2A:56-55, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.