What is the duration of the redemption period after a tax sale?

In New Jersey, the redemption period following a tax sale is specifically set at five years. This period is crucial as it provides property owners with a timeframe in which they can redeem their property by paying off the delinquent taxes along with any associated interest and fees. This five-year duration allows homeowners some relief and opportunity to regain ownership of their property if they are able to settle the outstanding tax obligations.

During this redemption period, the property is still considered as belonging to the original owner, although the tax sale purchaser holds a certificate that can lead to eventual ownership transfer if the taxes are not redeemed. Understanding this five-year redemption period is essential for tax collectors, property owners, and those involved in real estate, as it impacts decisions regarding tax recovery and property management.

Other durations listed in the choices do not align with New Jersey laws regarding tax sales and redemptions, reinforcing the fact that five years is the correct and legal window for redemption.