New Jersey Statutes 3B:23-27. Condition of distributee’s bond
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Terms Used In New Jersey Statutes 3B:23-27
- Administrator: includes general administrators of an intestate and unless restricted by the subject or context, administrators with the will annexed, substituted administrators, substituted administrators with the will annexed, temporary administrators and administrators pendente lite. See New Jersey Statutes 3B:1-1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Distributee: means any person who has received property of a decedent from his personal representative other than as a creditor or purchaser. See New Jersey Statutes 3B:1-1
- Intestate: Dying without leaving a will.
The bond of a distributee shall be conditioned substantially as follows: That if any debt or debts, truly owing by the intestate, shall be afterwards sued for and recovered or otherwise duly made to appear, and there shall be no other assets to pay, he shall refund and pay back to the administrator his ratable part of the debt or debts, out of the part and share so allotted to him.
L.1981, c. 405, s. 3B:23-27, eff. May 1, 1982.