3B:28-3.1. Joint occupancy of principal matrimonial residence; mortgage lien. The right of joint possession to the principal matrimonial residence as provided in N.J.S.3B:28-3 is subject to the lien of a mortgage, irrespective of the date when the mortgage is recorded, provided:

   a.   The mortgage is placed upon the matrimonial residence prior to the time that title to the residence was acquired by the married individual; or

   b.   The mortgage is placed upon the matrimonial residence prior to the marriage; or

   c.   The mortgage is a purchase money mortgage; or

   d.   The parties to the marriage have joined in the mortgage; or

   e.   The right of joint possession has been subordinated, released or extinguished by subsection b. or c. of N.J.S.3B:28-3.

   Amended 2004, c.132, s.92; 2005, c.160, s.22.