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Is New Jersey a deficiency judgment state?

Deficiency Judgments Deficiency judgments are permitted in New Jersey. A lawsuit for a deficiency must be commenced within three months from the date of the foreclosure sale, or confirmation of the sale if confirmation was required. Although the deficiency suit is a separate lawsuit, it can only be brought against a person who was joined to the foreclosure lawsuit and who is personally responsible for the mortgage debt. Such a person must be served with the process. On a note that is dated on or after May 1,1980, the debtor may dispute the deficiency by introducing evidence of the fair market value of the mortgaged premises at the time of the foreclosure sale. The deficiency is limited to the difference between the fair market value of the premises and the balance due on the loan. However, a borrower should object to the foreclosure sale price prior to the confirmation of the sale. The failure to do so may set the borrower up for a larger deficiency. However, some New Jersey courts are refusing to confirm the foreclosure sale unless the lender agrees, as part of the confirmation, not to sue the borrower for a deficiency greater than the difference between the fair market value and the balance owed on the loan.


When did the US Supreme Court declare segregation in public schools unconstitutional?

Brown v. Board of Education, 347 US 483 (1954)The Supreme Court ruled that segregation in education was unconstitutional and that the African-American students could attend the originally segregated white schools. While this ended de jure (legal) segregation, the Supreme Court didn't outline the method for desegregation until Brown II (Brown v. Board of Education, 349 US 294 (1955), the following year.For more information, see Related Questions, below.


How did Hawaii lose its right to be sovereign?

The United States government illegally took it from the Hawaiian monarchy. There is currently a lawsuit between the U.S. and the last descendants of the former Queen of Hawaii, trying to get compensation. If it reaches the Supreme Court and proper due process of law is applied, the Plaintiffs will win.


Why is it important that the judicial branch is separate from the other branches of government?

So that if there comes a time when the state (the government per se) or a member of it gets involved in a legal situation or a lawsuit, the judicial branch is separated enough from the other branches of government to not be bribed and to make the right and just decision for the case.


What was the effect of the Supreme Court case Marbury v Madison?

The US Supreme Court set a standard on the power of judicial review. This meant, that the Court could review governmental actions without a lawsuit to be settled. The Court, on its own volition had the right to review issues that pertained to the US Constitution. In effect, the Court already had the ability or practice of " judicial review". It did not "gain it", it simply used the power the US Constitution gave to the Court.

Related Questions

What is the legal principle which deals with the location where a lawsuit should be brought?

venue


What's the difference between a lawsuit and suing?

A lawsuit is a legal case brought to court to resolve a dispute, while suing is the act of initiating a lawsuit against someone. In other words, suing is the action of filing a lawsuit.


Can you dispute a mechanics lien on your property in Arkansas?

Yes. You can file a lawsuit to challenge the lien or you can wait for the claimant to sue to enforce the lien and challenge it then.


A legal action brought between two sides in a court of law?

Lawsuit


Does the Homestead Declaration in the State of Texas protect you from losing your home in a lawsuit?

The answer depends on the subject matter of the lawsuit. It protects you against creditors but not against lawsuits that challenge the title to the property.


What is the difference between a complaint and a lawsuit?

A complaint is a formal statement expressing dissatisfaction or grievance, while a lawsuit is a legal action brought to court seeking resolution or compensation for a dispute.


The time periods during which a lawsuit must be brought are called?

It is called Statute of Limitations.


Black who sued for school integration?

Oliver Brown was the black parent who sued for school integration in the 1950s. This lawsuit led to the end of segregation in schools by 1964.


What is the difference between a suit and a lawsuit?

A suit refers to a set of matching jacket and trousers worn as formal attire, while a lawsuit is a legal case brought to court to settle a dispute or claim.


Did the US District Court for the District of the Northern Mariana Islands ever rule on the constitutionality of Northern Mariana Islands' ban on same-sex marriage?

No. No such lawsuit has yet been filed in the Northern Mariana Islands.


Who brought the law suit against the officers in the Rodney King case?

Rodney King brought a lawsuit against the officers involved in the beating.


Can there be a lawsuit involving a no fault accident?

Yes, even in states where there are "no fault" laws a civil suit can be brought for damages and/or injuries.