2A:19-12. Exemption to assignor
145 words·~1 min read·
/nj/title-2a/chapter-19/2a-19-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In case of any general assignment, other than a general assignment of partnership property or by a corporation, there shall be reserved of the goods and chattels of any assignor having a family residing in this state, goods and chattels to the value of $500, and all wearing apparel for the use of the assignor and his family. The assignee shall, at the written demand of the assignor, as soon after the assignment is executed as conveniently may be, cause a just and true appraisement of the assignor's goods and chattels at their actual value.
The appraisement shall be made by 2 appraisers appointed by the assignee. The assignee shall thereafter set apart for the use of the assignor and his family such of the goods and chattels as the assignor may select from the appraisement, not exceeding in value the said sum of $500.