New Jersey Statutes 2A:19-12. Exemption to assignor
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Terms Used In New Jersey Statutes 2A:19-12
- Assignee: means an assignee under a general assignment, including an assignee appointed under chapter 20 of this title. See New Jersey Statutes 2A:19-1
- Assignor: means any debtor who has executed a general assignment. See New Jersey Statutes 2A:19-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- general assignment: includes an assignment by a debtor made under section 2A:20-6 of this title. See New Jersey Statutes 2A:19-1
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
In case of any general assignment, other than a general assignment of partnership property or by a corporation, there shall be reserved of the goods and chattels of any assignor having a family residing in this state, goods and chattels to the value of $500, and all wearing apparel for the use of the assignor and his family. The assignee shall, at the written demand of the assignor, as soon after the assignment is executed as conveniently may be, cause a just and true appraisement of the assignor’s goods and chattels at their actual value. The appraisement shall be made by 2 appraisers appointed by the assignee. The assignee shall thereafter set apart for the use of the assignor and his family such of the goods and chattels as the assignor may select from the appraisement, not exceeding in value the said sum of $500.
L.1951 (1st SS), c.344.