New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 19-2

When, at a sale upon foreclosure of a mortgage forming part of the assets of the estate in his hands, a fiduciary shall purchase the real estate affected, or when, to avoid foreclosure of such a mortgage asset, the fiduciary shall acquire title by deed from the owner of the real estate affected, or when, to protect such a mortgage asset, the fiduciary shall become a purchaser under any sale made upon foreclosure of any other mortgage, tax sale or other lien on the real estate, or at a sale of the real estate under execution or any judicial proceeding, the real estate so purchased or acquired by the fiduciary shall be an asset of the estate in his hands and may be sold and conveyed by him or any substituted fiduciary without order or judgment of the court. Any such sale or conveyance made by him shall be valid and effectual in all respects to sell or convey such real estate as if made under direction of the court.