New Jersey Statutes 46:28-2. Disposition of chattels when recovered or removal prevented
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Terms Used In New Jersey Statutes 46:28-2
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
When mortgaged chattels shall be removed out of the county wherein they were at the time of the execution or delivery of the mortgage thereof, and shall be recovered by the mortgagee or owner of the mortgage by means of legal proceedings, or when the removal of such chattels shall be prevented by like proceedings, the court in which such proceedings are had may regulate the disposition of such chattels and prescribe such terms for the possession thereof by any person interested therein as will protect the right of such mortgagee or owner of such mortgage.