New Jersey Statutes 46:28-10. Validity of chattel mortgages of railroads and public utilities included in real estate mortgages of such corporations pursuant to s. 46:28-14
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Terms Used In New Jersey Statutes 46:28-10
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
Every chattel mortgage included in a mortgage of franchises and real estate pursuant to section 46:28-14 of this Title shall be valid against the creditors of the mortgagor, subsequent purchasers and mortgagees from the time of the recording thereof or the lodging thereof for record until the same shall be canceled of record.
Amended by L.1953, c. 214, p. 1620, s. 3; L.1961, c. 121, p. 731, s. 12; L.1963, c. 190, s. 1.