New Jersey Statutes 2A:19-34. Partial distribution
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Terms Used In New Jersey Statutes 2A:19-34
- 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
- Court: means the Superior Court. See New Jersey Statutes 2A:19-1
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
The court, in its discretion, on the application of the assignee or any person in interest, from time to time, may direct such partial distribution from the assets in hand to those creditors whose claims are not in dispute as may safely be made, reserving at all times sufficient assets to secure, after all the claims shall have been adjudicated and finally settled, an equal and proportionate distribution according to the intent of this chapter.
L.1951 (1st SS), c.344.