New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 34-8

When real estate has been sold under authority of this chapter, and, with the exception of persons not in being, or persons having contingent interests therein, the life tenant or other person having a vested interest therein, who brought the action, is entitled to the entire proceeds of the sale, the court may direct the proceeds of the sale to be paid to the life tenant or other person having a vested interest, upon the execution by him of a bond, with sufficient surety, to the superior court of New Jersey.

The bond shall be conditioned that, in the event of the birth of any person not in being at the time of the making of the direction for payment, who might have an interest in such real estate or in the proceeds arising from a sale thereof, or of the vesting of any contingent interest therein, such life tenant or other person will repay into the court such proceeds, or such part thereof as he may be directed to pay by the court.