Legal Question in Real Estate Law in New Jersey

Re: what constitutes satisfaction of sale

Agreements to purchase and sell real property must be in writing to be enforceable.

I'm not sure what you mean by "satisfaction of property".

The usual process is that buyer and seller sign a contract, buyer puts down a deposit, which should not be paid directly to seller, then a number of events happen [home inspection, mortgage application, ordering title insurance etc.]. After those events have passed, the closing takes place.

At the closing, the balance of the purchase price is paid and the seller delivers documents to the title company to transfer title to the buyer. The title company insures to the buyer that the buyer is getting legal title.

If you don't have a written contract, it will be difficult to enforce the purchase, but you may be able to go after the seller for return of your money.