Terms Used In New Jersey Statutes 46:9-8.3

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The priority of the lien of a mortgage loan shall not be affected by the fact that there may not have been any outstanding indebtedness at some time or times during the term specified in the mortgage.

L. 1985, c. 353, s. 3, eff. Nov. 9, 1985.

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