New Jersey Statutes 2A:42-94. Accounts of receipts and expenditures; presentation or settlement; notice
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Terms Used In New Jersey Statutes 2A:42-94
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
The court shall require the keeping of written accounts itemizing the receipts and expenditures under an order issued pursuant to this act, which shall be open to inspection by the owner, any mortgagee or lienor or parties in interest in such receipts or expenditures. Upon motion of the court or the administrator or of the owner, any mortgagee or lienor of record or of parties in interest, the court may require a presentation or settlement of the accounts with respect thereto. Notice of a motion for presentation or settlement of such accounts shall be served on the owner, any mortgagee or other lienor of record who appeared in the proceeding and any parties in interest in such receipts or expenditures.
L.1971, c. 224, s. 10, eff. June 21, 1971.