17:16C-52 - Payment in full of retail installment contract - New Jersey Statutes

17:16C-52.   Payment in full of retail installment contract      52.  Upon payment in full by the retail buyer of the time balance and other amounts lawfully due under a retail installment contract, the holder shall: 

   (a)  Return to the retail buyer either the original instruments evidencing indebtedness or constituting security under a retail installment contract, which were signed by the retail buyer or his sureties or guarantors in conjunction with such contract or a copy thereof, excepting such instruments as are filed or recorded with a public official and retained in the files of such official; 

   (b)  Release all security interest in the goods or in any collateral security to the obligation of the retail buyer under such contract; 

   (c)  Deliver to the retail buyer such good and sufficient assignments and certificates of title as may be necessary to vest the retail buyer with complete evidence of title. 

   L.1960,c.40,s.52; amended 1995,c.33,s.2.