There is a newer version
of
this Section
2020 New Jersey Revised Statutes
Title 43 - Pensions and Retirement and Unemployment Compensation
Section 43:16A-16.9 - Definitions
Universal Citation: NJ Rev Stat § 43:16A-16.9 (2020)
43:16A-16.9. Definitions
2. As used in this act:
"Mortgage loan" means any indebtedness secured by a mortgage on a residential property, which mortgage shall constitute a first lien on the property;
"Residential property" means any real property including land or, in the case of condominiums, an interest in a lot of land, which real property shall consist of a single one or two family dwelling, including appropriate garages or other outbuildings, or unimproved real property if the proceeds of the mortgage loan shall be used exclusively for the purposes of erecting such a single one or two family dwelling thereon.
L.1992,c.78,s.2.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.