(a) Report of Sales. A sheriff, receiver, guardian, or a personal representative of decedent selling lands to pay debts or other person ordered to sell real estate shall file with the court a report of any sale made, verified by affidavit, stating the name of the purchaser and the price and terms of sale. If the sale was made by such guardian or personal representative, the report shall also state the names and addresses of all persons in interest. In case of a private sale, the report shall have annexed to it the affidavits of at least 2 persons, stating the fair market value of the property sold.
(b) Notice of Application for Confirmation. Any person making the sale, other than a sheriff, shall apply for the court's confirmation of the sale on 10 days' notice, given personally or by ordinary mail to all persons in interest who reside in the State and 20 days' notice similarly given to all persons in interest who reside outside this State; but the court may by order dispense with notice or make any other provision with respect thereto.
(c) Objections to Confirmation; Order Confirming Sale. Written objection to the confirmation of the sale and opposing affidavits shall be served upon the person making the salenot later than 3 days before the hearing unless the court permits service thereof at some other time. At the hearing the court may summarily dispose of the objection on affidavits. If the court approves the sale and is satisfied that the real estate was sold at its highest and best price at the time of the sale, it shall by order confirm the sale as valid and effectual and direct the person by whom it was made to deliver a good and sufficient conveyance in pursuance of the sale. If a private sale is submitted to the court for confirmation, the court may approve a better offer received after the tentative contract of sale.
(d) Sale by Fiduciary Under a Will Within One Year of Decedent's Death. Where within one year after testator's death a fiduciary under the will sells real estate pursuant to a power of sale conferred either by the will or by N.J.S.A. 3B:14-23, the fiduciary shall have the power, but shall not be required, to report the sale to the court for approval.
