3B:28-3.1 - Joint occupancy of principal matrimonial residence; mortgage lien - New Jersey Statutes

3B:28-3.1  Joint occupancy of principal matrimonial residence; mortgage lien.

3B:28-3.1.  Joint occupancy of principal matrimonial residence; mortgage lien. The right of joint possession to the principal matrimonial residence as provided in N.J.S.3B:28-3 is subject to the lien of a mortgage, irrespective of the date when the mortgage is recorded, provided:

a.The mortgage is placed upon the matrimonial residence prior to the time that title to the residence was acquired by the married individual; or

b.The mortgage is placed upon the matrimonial residence prior to the marriage; or

c.The mortgage is a purchase money mortgage; or

d.The parties to the marriage have joined in the mortgage; or

e.The right of joint possession has been subordinated, released or extinguished by subsection b. or c. of N.J.S.3B:28-3.

Amended 2004, c.132, s.92; 2005, c.160, s.22.