New Jersey Statutes 2A:19-14. Assignee’s powers as representative of creditors; setting aside conveyances and transfers
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Terms Used In New Jersey Statutes 2A:19-14
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Creditor: includes any person to whom a debt is due. See New Jersey Statutes 2A:19-1
The assignee, in addition to the powers which he may exercise as the successor to the assignor, shall also at all times be the representative of the creditors of the assignor, and shall have the same power to set aside conveyances, and to recover or reach assets for the benefit of the creditors as a creditor would have who was the holder of a judgment and levy against the assignor and his property at the date of the assignment. All conveyances, mortgages and transfers of property, real or personal, made by the assignor, which are void or voidable as against the creditors of the assignor, shall in like manner be void or voidable as against the assignee.
L.1951 (1st SS), c.344.