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Code · New Jersey · Title 3B — Administration of Estates--Decedents and Others · Chapter 10

3B:10-18. When appointment unnecessary

122 words·~1 min read·/nj/title-3b/chapter-10/3b-10-18

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The appointment of a substituted administrator shall not be required if the unadministered assets of the intestate or testator consist of money on deposit in a bank, trust company or savings and loan association not exceeding $1,000.00, in which event it shall be lawful for the Superior Court, in an action brought by any party in interest, to authorize the bank, trust company or savings and loan association to distribute to the persons entitled by law to receive the assets. Payments made pursuant to the authority of this section shall release the bank, trust company or savings and loan association from any claim of, or liability to, any person interested in the estate.
L.1981, c. 405, s. 3B:10-18, eff. May 1, 1982.
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