40:37-126. Effect of declaration of sale; liability for waste The declaration of sale shall be presumptive evidence in all courts and places that the sale and proceedings were regular and according to law, and the purchaser or his legal representatives shall, by virtue thereof, lawfully hold and enjoy such real estate, with the rents, issues and profits thereof, for his own proper use against the owner thereof, and all persons claiming under him, until the end of the term mentioned in the declaration. The purchaser so holding shall be liable for any injury or waste done or committed in the same manner and to the same extent as a tenant for years.
New Jersey Legal Code