New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 20-7

A bond and mortgage, or other security, given by a fiduciary mentioned in section 3A:20-6 of this title, if the court approve thereof, shall be valid and effectual in law, and, upon delivery, shall vest in the holder thereof all the estate, title and interest of the minor or mental incompetent in and to the real estate, subject, however, to the provisos in the mortgage or other security contained.