N.J.A.C. 18:26-11.1 (2014)
§ 18:26-11.1 Consent to transfer; generally
(a) Except as otherwise indicated in this chapter, no executor, administrator, trustee, individual, firm, association, partnership, organization or corporation including any banking institution, trust company or safe deposit company organized under the laws of New Jersey; National Bank operating in this State; Building and Loan or Savings and Loan Associations engaged in New Jersey; or credit unions chartered by the United States operating in this State, may release or transfer any real property or any tangible or intangible personal property which is subject to the Transfer Inheritance Tax and if the decedent died after December 31, 2001 which is subject to the estate tax, all or any part of which belongs to a resident decedent, whether held in the name of the decedent or otherwise, without first obtaining the written consent to such transfer or release from the Director.
(b) No waivers are required in estates of nonresident decedents, except for an inheritance tax waiver for real property located in the State of New Jersey.
1. There is, however, the necessity of definitely establishing to the satisfaction of the trustee, individual, firm, association, partnership, organization or corporation (its transfer agent) including any banking institution, trust company or safe deposit company organized under the laws of New Jersey; National Bank operating in this State; Building and Loan or Savings and Loan Associations engaged in New Jersey; or credit unions chartered by the United States operating in this State that the decedent was legally domiciled in a jurisdiction other than New Jersey. The proper procedure is for the personal representative of the estate to file with the proper party as aforesaid an affidavit establishing in some detail the facts as to domicile;
2. These should include place of residence and voting; social and business affiliations, where the last five income tax returns were filed prior to death; date of commencement and length of actual residence in place claimed as legal domicile; whether decedent formerly resided in New Jersey and, if so, what facts are relied upon to establish abandonment of New Jersey and intention not to return;
3. If from the proofs submitted to him the proper party as aforesaid is convinced that decedent was legally domiciled outside of New Jersey he may transfer the stock or obligation of the corporation or any other tangible or intangible personal property without the written consent of the Director, Division of Taxation, keeping the affidavit in his permanent files as authority for the action taken.
(c) No inheritance tax waivers are required to be issued by the Director in the case of certain transfers to the surviving spouse of a New Jersey domiciled decedent who died on or after January 1, 1985, or a surviving civil union partner of a New Jersey domiciled decedent who died on or after February 19, 2007, or to a registered domestic partner of a New Jersey domiciled decedent who died on or after July 10, 2004. In order to satisfy a corporation (its transfer agent) including any banking institution, trust company organized under the laws of New Jersey, national bank operating in this State, building and loan or savings and loan association in New Jersey, or credit union chartered by the United States operating in this State that intangible assets may be released to the surviving spouse/civil union partner or domestic partner, an affidavit of waiver (Form L-8) can be executed by the surviving spouse/civil union partner or domestic partner or the personal representative of the decedent's estate.
1. If two or more executors or administrators qualify, the affidavit may be executed by one of them.
2. The decedent's surviving spouse/civil union partner can execute an affidavit (Form L-8) in all cases where under the terms of the account or instrument and applicable State law the spouse/civil union partner has the right of survivorship or is the named beneficiary. Letters testamentary or of administration are not required to be attached as part of the affidavit when executed by the surviving spouse/civil union partner, except as provided in (c)3 below.
3. Where the surviving spouse/civil union partner has qualified as executor or administrator of the decedent's estate, intangible assets which pass to the spouse/civil union partner under a will or the law of intestate distribution can be released by the affidavit together with other assets described in (c)2 above, provided that the spouse's/civil union partner's letters testamentary or of administration are attached and made a part of the affidavit as provided in (c)1 above. Where the spouse/civil union partner has not qualified as an executor or administrator of the decedent's estate, only intangible assets may be released by the affidavit in accordance with (c)2 above.
4. A separate affidavit is required for each institution, organization or corporation releasing assets to a surviving spouse/civil union partner.
5. The affidavit of waiver by the surviving spouse/civil union partner cannot be used for real property and tangible personal property transfers from a decedent to a surviving spouse/civil union partner.
6. Estate tax waivers are required if the decedent died after December 31, 2001 except as provided in (e) below. Estate tax waivers are not required if a decedent died on or prior to December 31, 2001.
(d) No inheritance tax waivers are required to be issued by the Director in case of certain transfers to the following Class "A" transferees in the estate of New Jersey domiciled decedent who died on or after July 1, 1988: a father, mother, grandparent, grandchild, a child or children of a decedent, including any stepchild of a decedent or child or children adopted by a decedent or the issue of any child or legally adopted child of a decedent. In order to satisfy a corporation (its transfer agent) including any banking institution, trust company organized under the laws of New Jersey, national bank operating in this State, building and loan or savings and loan association in New Jersey, or credit union chartered by the United States operating in this State that intangible assets may be released to the Class "A" transferee, an affidavit of waiver can be executed by the Class "A" transferee or the personal representative of the decedent's estate.
1. If two or more executors or administrators qualify, the affidavit may be executed by one of them.
2. The Class "A" transferee can execute an affidavit in all cases where under the terms of the account or instrument and applicable State law the Class "A" transferee has the right of survivorship or is the named beneficiary. Letters testamentary or of administration are not required to be attached as part of the affidavit when executed by the Class "A" transferee, except as provided in (d)3 below.
3. Where the Class "A" transferee has qualified as executor or administrator of the decedent's estate, intangible assets which pass to the Class "A" transferee under a will or law of intestate distribution can be released by the affidavit together with assets described in (d)2 above, provided that the Class "A" transferee's letters testamentary or of administration are attached and made a part of the affidavit as provided in (d)1 above. Where the Class "A" transferee has not qualified as an executor or administrator of the decedent's estate, only intangible assets may be released by the affidavit in accordance with (d)2 above.
4. A separate affidavit is required for each institution, organization or corporation releasing assets to a Class "A" transferee.
5. The affidavit of waiver by the Class "A" transferee cannot be used for real property and tangible personal property transfers from a decedent to a Class "A" transferee.
6. Estate tax waivers are required if the decedent died after December 31, 2001 except as provided in (e) below. Estate tax waivers are not required if a decedent died on or prior to December 31, 2001.
(e) An estate tax waiver is not required for decedents dying after December 31, 2001 if the decedent's taxable estate plus adjusted taxable gifts for Federal estate tax purposes under the provisions of the Internal Revenue Code in effect on December 31, 2001 does not exceed $ 675,000.
(f) In the absence of the express approval of the Director, waivers are not issued until the passage of ten business days following the receipt of payment.
