New Jersey Statutes 2A:57-2. Mortgagee or lien holder as party; determination and payment of claims
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Terms Used In New Jersey Statutes 2A:57-2
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
Any mortgagee or any judgment creditor having a lien upon the land upon which more than one-half of a partition wall is erected may be made party to a proceeding brought pursuant to the provisions of this chapter.
If any such persons, having been made parties to the proceeding, shall fail to appear, answer and prove their claims, they shall be bound by any judgment made in the proceeding. If, however, they shall appear, answer and prove their claims and demand payment thereof from the gross sum awarded under authority of section 2A:57-1 of this title, the same shall be paid to them in the order of their priority, and the amounts so paid shall be deducted from their respective claims.
L.1951 (1st SS), c.344.