§ 3151

Trustee may file bond and sell property When such action is pending in the Supreme or Superior Court, the trustee may sell the property, and the purchaser shall hold the same released from the mortgage and attachment, if such trustee files with the clerk of the court: (1) a bond to the plaintiff in a sum equal to the amount for which attachment is directed in the writ, with sufficient sureties, approved by such clerk or judge, conditioned that such trustee will pay the judgment rendered against him or her in the action; and (2) a bond to the defendant in a penal sum double the amount of the mortgage debt, with sureties approved as aforesaid, conditioned that he or she will pay the balance due upon the mortgage after paying such judgment and that, if discharged as trustee, he or she will pay the amount secured by the mortgage. (Amended 1965, No. 194, § 10, eff. July 1, 1965, operative Feb. 1, 1967; 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974; 2009, No. 154 (Adj. Sess.), § 79.)