New Jersey Statutes 3B:22-25. Sale of property subject to escheat to pay debts
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Terms Used In New Jersey Statutes 3B:22-25
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- 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 any case where property may be subject to escheat to the State, proceedings to sell the property to pay debts may be taken as provided in this article.
L.1981, c. 405, s. 3B:22-25, eff. May 1, 1982.