New Jersey Statutes 46:10B-49.3. Required notifications by lender
Current as of: 2023 | Check for updates
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Terms Used In New Jersey Statutes 46:10B-49.3
- collector: when used in relation to the collection of taxes or water rents or other public assessments, includes all officers charged with the duty of collecting such taxes, water rents or assessments, unless a particular officer is specified. See New Jersey Statutes 1:1-2
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
- Summons: Another word for subpoena used by the criminal justice system.
3. A residential mortgage lender that serves a summons and complaint in an action to foreclose on a mortgage on a residential property in this State pursuant to the “Fair Foreclosure Act,” P.L.1995, c.244 (C. 2A:50-53 et seq.), shall, within 10 days of serving the summons and complaint, notify the Department of Community Affairs, the municipal clerk, the municipal tax collector, and the chief of police in the municipality in which the property is located, and all public utilities as defined in R.S.48:2-13 which provide services in the municipality in which the property is located, and the county executive in the county in which the property is located, that a summons and complaint in an action to foreclose on a mortgage has been filed against the property.
L.2019, c.134, s.3.