New Jersey Statutes 3B:22-15. Failure to file refunding bond; presumption that devise or distributive share remains unpaid
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Terms Used In New Jersey Statutes 3B:22-15
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Devisee: means any person designated in a will to receive a devise. See New Jersey Statutes 3B:1-1
- Estate: means all of the property of a decedent, minor or incapacitated individual, trust or other person whose affairs are subject to this title as the property is originally constituted and as it exists from time to time during administration. See New Jersey Statutes 3B:1-1
In an action by a creditor against a personal representative, for the payment of a ratable proportion of his debt, it shall be presumed that the assets of the estate due a devisee or heir have not been paid over to him, if no refunding bond from the devisee or heir is on file. However, the presumption may be rebutted by proof that the devise or distributive share was actually paid over to him.
L.1981, c. 405, s. 3B:22-15, eff. May 1, 1982.