New Jersey Statutes 3B:23-28. Bonds required of holders of determinable interests; in general
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Terms Used In New Jersey Statutes 3B:23-28
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
A personal representative shall not be compelled to pay or deliver personal property devised for life, for a term of years or for any other limited period, or upon a condition or any contingency, to the holder of the determinable interest, until security is given to the court in a sum and form as the court may deem sufficient to secure the remainder interest, whenever it shall accrue or vest in possession.
L.1981, c. 405, s. 3B:23-28, eff. May 1, 1982.