N.J.S.A. 46:10B-14

Use for dwelling units; limits on interest

46:10B-14. Use for dwelling units; limits on interest Graduated payment mortgages may be secured only by real estate on which there is erected or to be erected a structure containing one, two, three, four, five, or six dwelling units, a portion of which structure may be used for non-residential purposes, and interest thereon shall not exceed the usury rate established pursuant to R.S. 31:1-1 at any time during the term of the mortgage. L.1979, c. 139, s. 3, eff. July 6, 1979.

External source: View on Justia →

This is the verbatim text of N.J.S.A. 46:10B-14, 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.