N.J.S.A 2A:42-139 Conditions for reinstatement of owner’s rights.

2A:42-139 Conditions for reinstatement of owner’s rights.

26. a. The court may require as a condition of reinstatement of the owner’s rights that the receiver or other qualified entity remain in place as a monitor of the condition and management of the property for such period as the court may determine, and may require such reports at such intervals as it deems necessary and appropriate from the monitor. The court may require the owner to pay a fee to the monitor in such amount as the court may determine.

b. In the event of the owner’s failure to comply with the conditions established for reinstatement of the owner’s rights, or evidence of recurrence of any of the conditions for receivership set forth in section 4 of Phamplet Law 2003, Chapter 295 (C. 2A:42-117), the receiver, monitor or any party in interest may petition the court for reinstatement of the receivership at any time, which may be granted by the court in a summary manner after notice to the parties and a hearing, if requested by any of the partieS.If the court reinstates the receivership, the entire bond or other security shall be forfeit and shall be provided to the receiver for the operation and improvement of the property.

L.2003,C. 295,S.26.

Case(s):

Look up case for New Jersey Statute 2A:42-139 Conditions for reinstatement of owner’s rights.

Original Text maintained by the State of New Jersey:

NJ Maintained Unanotated Statutes References to 2A:42-139 Conditions for reinstatement of owner’s rights.

Previous: 2A:42-138 Granting of owner’s petition. Next: 2A:42-140 Termination of receivership.

Disclaimer: Always check for the most up to date language of a statute. Every time a new law is enacted it has a possibility of changing the wording of a statute or override case law. These pages were created to assist in looking up and migrating between statutes easily. No accuracy is guaranteed. If you need help with researching law, contact an attorney.

Related Posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.