Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1881-05-05
oHAprER crxxrx.

| A further supplement- to the act entitled e An
act concerning mortgages, approved March
| twenty-seventh, one Thousand eight hundred
| and seventy-four.
l. Be it enacted by the Senate and General
| Assembly of the State of New JERSEY. That
every chattel mortgage shall vest in the mort
| gagee, or owner thereof the right TO the pos
| session of the chattels therein described SO
| far as may be necessary for the purpose of pre-
| venting the removal thereof out of the county
wherein they did lie atthe time of the execution
| or delivery of such mortgage, and Of recovering
such chattels in case the same shall have been
removed out of such county
2. And be 1t enacted, That when such chattels
shall be removed by any party and recovered BY
| the mortgage or owner ofthe mortgage by means
| of legal proceedings, or when the removal
| thereof shall be prevented by like proceedings
| the court in which such proceedings ara had
| may regulate the disposition of such chattels
and prescribe such terms for the possession
thereof by the MORTGAGE or other person inter-
ested therein as will protect the rights of such
mortgage, or owner of such mortgage.
8. And be it enacted, That the above provl-
sions shall not apply to any vessel, rolling
stock of railroads, or to any chattels which in
the ordinary use thereof at the time of the ex-
ecution of the mortgage are taken from time
to timeout of the county wherein they did lie
when so mortgaged.
T. And be it enacted, That every mortgage or
conveyance intended to operate as q mortgage of
goods and chattels hereafter made, which shall
not be accompanied by an immediate delivery
and followed by an actual and continued change
of possession of the things mortgaged shall be
absolutely void as against the creditors of the
mortgageor, and as against subsequent pur-
chasers and mortgages in good faith, unless
the mortgage be recorded as directed in the
succeeding section of this act.
3. And be it enacted, That the instruments
anti pad in hall fA
recorded in the clerks Office of the county
wherein the mortgageor, if resident of this
state, shall reside at the time of the execution
thereof, and if not resident of this state
then in the clerks Office of the county where
the property so mortgaged shall bc at the time
of the execution of such instrument; provided
that in any county where the Office of register
of deeds exists or hereafter may be created
such instruments shall be recorded in the Office
of such register.
6. And be it enacted, That no chatteT mort
gage or conveyance intended to operate as a
mortgage of goods and chattels shall be re-
corded unless the execution thereof shall be
first acknowledged or proved. and such ac-
knowledgment or proof certified thereon in tho
manner prescribed by the act entitled San act
respecting conveyanees.
Z. And be it enacted, That the clerkstanG
registers of the several counties of this state
are hereby authorized to provide suitable books.
at the expense of their respective counties, in
which to record the instruments by this act
directed TO be recorded and itshall be the duty
of the said clerks and registers to record said
instruments in accordance with the provisions
of this act; and the said clerks and registers
shall respectively enter at tho foot of the re-
cord of each mortgage and instrument so record
ed at the time when such mortgage or instTu-
ment was received by him in his Office to be re-
corded, and shall indorse on each mortgage
and instrument when recorded as aforesaid, the
time when the game was delivered to him OF
his Office to be recorded, and the book and page
i'll which the same has been recorded, and shall
thereupon deliver the same to the party entitled
to it or to his order.
s. And be it enacted, That such chattel
mortgages shall be properly indexed, and the
records and certified copies thereof shall be
evidence in the same manner and IN like cases
as the record of deeds, and the said clerks and
registers shall be entitled to the same fees for
recording and indexing such cha5tel mortgages,
and for copying such records as they are en-
titled to for the recording, indexing and copy
ing deeds.
O. And be It enacted. That every chattel
mortgage hereafter recorded pursuant to tho
provisions of this act shall be valid against the
creditors of the mortgageor, and against sub
seluent purchasers and mortgages from the
time of the recording thereof until the same be
Cancelled of record in the manner now provided
estate.
TO- And be it enacted, That every chattel
| mortgage heretofore recorded according to the
provisions of the act entitled "a further sup
plement to tho act entitled An act respecting
mortgages, approved March twenty-seyenth,
one thousand eight hundred and seventy -four,
which said further supplement was approved
March the twelfth, one thousand eight hundred
and eighty, shall be valid as against the maker
thereof and his creditors, and as against suhse-
quent purchasers and mortgages until the
| same be Cancelled of record in the manner now
provided by law for the canceling Of mortgages
| of real estate.
| II. And be it enacted, That every chattel
mortgage now filed in pursuance of the laws
! of this State, and which now under the laws OF
this State exist as valid against the creditors OF
| the person making the same, or against pur-
| chasers or mortgages IN good faith shall cease
to be valid as against creditors, purchasers and
mortgages unless on or before the expiration
Of one year from the passage of this act, the
| mortgagee OF owner thereof cause true copy
Of said mortgage, together with a statement in
writing, under OATH exhibiting the interest Of
| said mortgage in the property therein claimed
| by him by virtue thereof to be recorded accord
| ing to the provisions of this act which said
| copy, together with said statement, the clerks
and registers of the several counties of this
| State are authorized and required to record,
and the said mortgage shall thereafter be valid
as against said creditors purchasers and mort
| gagees for the amount specified in said state
ment, until the same be cancelled Of record in
the manner now provided by law for canceling
mortgages of real estate, and the record of said
copy and statement or certified copies thereof
shall be received in evidence of the facts therein
| contained
12. And be it enacted, That the said clerks
and registers shall be entitled to receive the
same fees for recording said copies and state
I e.
for the same services in the recording, indexine
and copying Of deeds.
13. And be it enacted That all acts and parts
| Of acts inconsistent with this act be, and the
same are hereby repealed, and this act shall
| take effect Immediately.
Approved March 25 1881.