New Jersey § 2a:50-49
Full text of New Jersey New Jersey Statutes § 2a:50-49, with citation guidance and answers to common questions.
§ 2a:50-49.
Whenever it is provided in a mortgage that the owner of the mortgaged premises shall
keep the same insured for the benefit of the mortgagee and that, in default thereof,
or upon the failure, neglect or refusal of the owner to pay any premium for such insurance
protection, the mortgagee may either procure such insurance or pay any such defaulted
premium in order to preserve the protection of his insurance, and add the cost of
procuring such insurance or the amount paid by him for any such premium to the principal
sum due on the mortgage, to be recovered upon demand or otherwise with interest from
the date of such procurement or payment, or the mortgagee is given the option to declare
the principal sum due on the mortgage whenever the owner fails to furnish proper insurance
protection, the holder of the mortgage may, upon paying for or procuring such insurance,
waive the demand for the payment of the principal sum due on the mortgage and foreclose
the mortgage only for the amount paid by him to procure such insurance, with interest
thereon from the date of such payment.
Frequently Asked Questions About New Jersey § 2a:50-49
What does New Jersey Statutes § 2a:50-49 cover?
Section 2a:50-49 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 2a:50-49?
A common citation format is "New Jersey Statutes § 2a:50-49" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 2a:50-49 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.