N.J.S.A 2A:42-124 Denial of rights, remedies afforded lien, mortgage holders.

2A:42-124 Denial of rights, remedies afforded lien, mortgage holders.

11. Notwithstanding any provision to the contrary pursuant to Phamplet Law 2003, Chapter 295 (C. 2A:42-114 et al.), a court may in its discretion deny a lienholder or mortgage holder of any or all rights or remedies afforded lienholders and mortgage holders under Phamplet Law 2003, Chapter 295 (C. 2A:42-114 et al.), if it finds that the owner of the building owns or controls more than a 50% interest in, or effective control of, the lienholder or mortgage holder, or that the familial or business relationship between the lienholder or mortgage holder and the owner precludes a separate interest on the part of the lienholder or mortgage holder.

L.2003,C. 295,S.11.

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