New Jersey Revised Statutes § 46:28-14 - Mortgages Of Personalty Included In Mortgage Of Real Estate By Railroads Or Public Utilities

46:28-14. Mortgages of personalty included in mortgage of real estate by railroads or public utilities
46:28-14. The provisions of the Uniform Commercial Code, Secured Transactions, N.J.S.12A:9-101 et seq., shall not be taken, construed or held to apply to any mortgage of personal property included in a mortgage of franchises and real estate heretofore or hereafter made by any railroad company or any other corporation defined by any law of this State as a public utility, and which has been or shall be recorded or registered as a mortgage of real estate in every county in which such railroad or public utility, or any part of it, or in which any of the real estate so mortgaged by it, is or shall be located, and any such mortgage so recorded shall be valid against the creditors of the mortgagor, and against subsequent purchasers and mortgagees until the same shall be released or shall be canceled of record in the manner prescribed by law for the release and cancellation of mortgages of real estate.

Amended 1961, c.121, s.11; 1963, c.190, s.2; 2001, c.117, s.26.

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Last modified: October 11, 2016