New Jersey Statutes 3B:30-10. Transfer on death, effectiveness
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Terms Used In New Jersey Statutes 3B:30-10
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- 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
10. a. A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this act and is not testamentary.
b. This act does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this State.
L.1995,c.130,s.10.