46:18-11.4 - Failure to comply; liability for costs of action for cancellation - New Jersey Statutes

46:18-11.4.  Failure to comply;  liability for costs of action for cancellation
    Any mortgagee or his assigns who fail to comply with section 1 of this act shall be liable to the mortgagor, or his heirs, successors or assigns who have an interest in the mortgaged premises for the cost of any legal action to have the mortgage canceled of record, including reasonable attorneys' fees, but no attorneys' fees shall be allowed unless 20 days written notice is given to the mortgagee prior to institution of suit.

     L.1975, c. 137, s. 3.