18:26-8.23 Vested remainders after estate for life, estate for a term of years, or annuity
When a vested remainder interest in any property subject to the New Jersey Inheritance Tax is bequeathed, devised, conveyed, granted, sold or given subject to one or more life estates, estates for a term of years, or annuities, such vested remainder is valued by first ascertaining the clear market value of the whole property and then deducting therefrom the value of each such life estate, estate for a term of years, or annuity as determined in accordance with the provisions of N.J.A.C. 18:26-8.22 (Estates for life, estates for a term of years and annuities).
When a vested remainder interest in any property subject to the New Jersey Inheritance Tax is bequeathed, devised, conveyed, granted, sold or given subject to one or more life estates, estates for a term of years, or annuities, such vested remainder is valued by first ascertaining the clear market value of the whole property and then deducting therefrom the value of each such life estate, estate for a term of years, or annuity as determined in accordance with the provisions of N.J.A.C. 18:26-8.22 (Estates for life, estates for a term of years and annuities).
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