3B:14-1. Survivorship and succession among cofiduciaries; duties and powers
107 words·~1 min read·
/nj/title-3b/chapter-14/3b-14-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There shall be survivorship and succession between and among cofiduciaries. If only one fiduciary survives or remains qualified to act, no substituted fiduciary need be appointed to act in the place of any cofiduciary who may have died or may have been removed, discharged or otherwise disabled to act.
The surviving fiduciary or cofiduciaries shall proceed with the duties of the office and shall be entitled to the property and assets, and to sue for and recover them, and to sell and convey them, as if the remaining fiduciary or cofiduciaries had been solely appointed to the office.
L.1981, c. 405, s. 3B:14-1, eff. May 1, 1982.