N.J.S.A. 17:16C-52 — Payment in full of retail installment contract

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.

This is the verbatim text of N.J.S.A. 17:16C-52, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.