Tax Lien Certificates

Middlesex County Tax Lien Certificates

In Middlesex County New Jersey tax lien certificates are sold at the Middlesex County tax sale. Tax delinquent properties are advertised in a local newspaper prior to the Middlesex County tax sale. Anyone wishing to bid must register preceeding the Middlesex County tax sale. Bids begin at eighteen (18) percent annually, compounded daily, however through competitive bidding interest can be bid down from eighteen (18) percent to zero (0) percent.

If the interest is bid down to zero (0) percent, then a "premium," bid commences. The bidder with the lowest interest rate or the greatest "premium" bid wins the right to purchase the Middlesex County New Jersey tax lien certificate. It is important to note that the premium amount does not earn interest.

The winning bidder must record the purchase of the Middlesex County New Jersey tax lien certificate in the Middlesex County Clerk's Office within 90 days of the purchase or risk losing their interest.

Taxes continue to accrue on the property after the sale of the certificate. Bidders have the option to pay these subsequent taxes; if they are not paid, a tax lien certificate will be sold at the next Middlesex County New Jersey tax sale. Any subsequent certificate issued will be paramount to any prior tax lien certificate. Subsequent taxes paid by the tax lien certificate owner earn interest at the rate set by the Middlesex County.

After two (2) years, the Middlesex County New Jersey tax lien certificate owner can initiate proceedings in Middlesex County Superior Court to foreclose on the property. If foreclosure is perfected, then the name on the deed is changed to that of the Middlesex County New Jersey tax lien certificate owner who can then take possession of the property.

If the Middlesex County New Jersey tax lien certificate is redeemed by the delinquent property owner prior to foreclosure, the Middlesex County New Jersey tax lien certificate earns a redemption penalty at the rate of 2, 4, or 6 percent, depending on the amount of the original Middlesex County New Jersey tax lien certificate, in addition to any interest rate on the tax lien certificate.

According to New Jersey Law, on tax lien certificates greater than $200, a penalty of 2% is added to the tax lien certificate, tax lien certificates greater than $5,000 bring a 4% penalty and tax lien certificates greater than $10,000, a 6% penalty is added. Some municipalities include an additional 6% year end penalty on tax lien certificates over $10,000 and could raise the penalty to as much as 12%.

If the Middlesex County New Jersey tax lien certificate is not redeemed, or the property foreclosed within the five (5) year period, then the premium amount escheats to the Middlesex County.

Tax Sale Type: Tax Lien Certificates

Contact: County Tax Collector (Sec. 54:5-19 )

Interest Rate: 18% per annum (Sec. 54:5-61 and (Sec. 54:5-32 )

Penalty Rate: 4% - 6% (Sec. 54:5-61 and (Sec. 54:5-32 )

Bid Procedure: Bid Down (Sec. 54:5-32 )

Redemption Period: Two (2) years (Sec. 54:5-86 )

Law: New Jersey Revised Statutes, Title 54, Subtitle 2, Chapter 5, "Tax Sale Law."

Additional Notes:

Amount to Redeem: According to (Sec. 54:5-32 ) the 'sale shall be made in fee to such person as will purchase the property, subject to redemption at the lowest rate of interest, but in no case in excess of 18% per annum. If at the sale a person shall offer to purchase subject to redemption at a rate of interest less than 1%, he may, in lieu of any rate of interest to redeem, offer a premium over and above the amount of taxes, assessments or other charges, as in this chapter specified, due the municipality, and the property shall be struck off and sold to the bidder who offers to pay the amount of such taxes, assessments or charges, plus the highest amount of premium...'.

In addition, according to (Sec. 54:5-61 ) When the tax title certificate amount shall exceed the sum of two hundred ($200) dollars, the holder, upon redemption of the tax title shall be entitled to collect from the owner or other person having an interest in the lands an additional sum equal to two per cent of the amount so paid for the tax title certificate.

Furthermore, according to (Sec. 54:5-62 ) When the tax title certificate amount shall exceed the sum of $5,000, such additional sum shall be equal to 4% of such amount paid; and when the tax title certificate amount exceeds $10,000, such additional sum shall be equal to 6% of such amount paid. This section shall also apply to all existing tax title certificates held by municipalities on the effective date of P.L.1991, c.75.

Cities located in Middlesex County New Jersey

To learn more about New Jersey Tax Lien Certificates simply click on the name of the town or city for which you are interested in the list below.

Town/City:	Population:
Avenel	14,263
Carteret	20,709
Colonia	17,993
Cranbury	10,186
Dayton	7,472
E Brunswick	45,560
E Windsor	10,186
East Brunswick	45,560
East Windsor	10,186
Edison	97,653
Fords	11,649
Helmetta	1,825
Highland Park	13,999
Hopelawn	49,417
Iselin	16,358
Jamesburg	34,377
Keasbey	2,968
Kendall Park	11,867
Laurence Harbor	21,962
Laurence Hbr	21,962
Menlo Park	14,652
Metuchen	15,726
Middlesex	13,717
Milltown	8,460
Monmouth Jct	13,571
Monmouth Junction	13,571
Monroe	34,377
Monroe Township	34,377
Monroe Twp	34,377
Morgan	21,962
N Brunswick	36,851
New Brunswick	99,468
North Brunswick	36,851
Old Bridge	36,014
Parlin	19,971
Perth Amboy	61,066
Piscataway	50,527
Plainsboro	17,778
Port Reading	3,696
S Plainfield	21,799
Sayreville	18,833
Sewaren	2,781
South Amboy	21,962
South Brunswick	7,472
South Plainfield	21,799
South River	15,322
Spotswood	7,880
West Carteret	20,709
Woodbridge	20,704

Counties located in New Jersey

To learn how to purchase New Jersey Tax Lien Certificates simply click on the name of the county for which you are interested in the list below.

County:	Auction Type:	Population:
Atlantic County	Tax Lien Certificates	252,552
Bergen County	Tax Lien Certificates	884,118
Burlington County	Tax Lien Certificates	423,394
Camden County	Tax Lien Certificates	508,932
Cape May County	Tax Lien Certificates	102,326
Cumberland County	Tax Lien Certificates	146,438
Essex County	Tax Lien Certificates	793,633
Gloucester County	Tax Lien Certificates	254,673
Hudson County	Tax Lien Certificates	608,975
Hunterdon County	Tax Lien Certificates	121,989
Mercer County	Tax Lien Certificates	350,761
Middlesex County	Tax Lien Certificates	750,162
Monmouth County	Tax Lien Certificates	615,301
Morris County	Tax Lien Certificates	470,212
Ocean County	Tax Lien Certificates	510,916
Passaic County	Tax Lien Certificates	489,049
Salem County	Tax Lien Certificates	64,285
Somerset County	Tax Lien Certificates	297,490
Sussex County	Tax Lien Certificates	144,166
Union County	Tax Lien Certificates	522,541
Warren County	Tax Lien Certificates	102,437

 

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