On page load, I am checking to see if a person is registered. If he is then, I will enable a link otherwise disable the link.
I tried the following , but it doesnt work.
If you really want to remove the link you can use jquery unwrap method.
$("yourlinkselector").contents().unwrap();
This will remove the link. To add it back again you might have to put the link text into a span, give it a name and use .wrap to wrap it around your content.
Working example can be found here: http://jsfiddle.net/Elak/hrvPj/2/
// remove the link
$(".link").contents().unwrap().wrap("")
// add the link again and remove the temp span
$(".oldLink").contents().unwrap().wrap("");