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What is the statute of Limitations in NJ?

Date: Sat, 07/12/2008 - 14:56

Submitted by Breakthecycle2
on Sat, 07/12/2008 - 14:56

Posts: 197 Credits: [Donate]

Total Replies: 6


For involuntary repossession (like there are ever voluntary) and CC debt?


Conversion of an instrument for money: 3 years, (N.J.S.A.12A: 3-118(g)).

Sale of goods under the UCC: 4-years, (N.J.S.A. 12A; 2-725).

Real or personal property damage, recovery and contracts not under seal: 6 years (N.J.S.A. 2A: 14-1).

Demand Notes when no demand is made: 10 years. If demand made: 6 years from date of demand, (12A: 3-118(b)).

Obligations under seal for the payment of money only, except bank, merchant, finance company or other financial institution: 16 years, (N.J.S.A. 2A: 14-4) actions for unpaid rent if lease agreement is under seal, (N.J.S.A. 2A: 14-4).

Real estate: 20 years, (N.J.S.A. 2A: 14-7); Judgments: 20 years, renewable, (2A: 14-5); Foreign judgments: 20 years (unless period in originating jurisdiction is less), (2A: 14- 5).

Unaccepted drafts: 3 years from date of dishonor or 10 years from date of draft, whichever expires first, (12A: 3- 118(c)).


lrhall41

Submitted by JCEMT on Sun, 07/13/2008 - 06:32

( Posts: 2934 | Credits: )


You can be sued for the deficiency for up to 4 years after the reposession.


lrhall41

Submitted by on Wed, 08/13/2008 - 09:19

( Posts: | Credits: )