N.J.S.A. 46:18-11.4 — Failure to comply; liability.

46:18-11.4 Failure to comply; liability. 3. Any mortgagee who fails to comply with section 1 of P.L.1975, c.137 (C.46:18-11.2) 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; amended 2015, c.225, s.3.

This is the verbatim text of N.J.S.A. 46:18-11.4, 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.