Kenneth Vercammen & Associates, P.C.
2053 Woodbridge Ave.
Edison, NJ 08817
(732) 572-0500
www.njlaws.com

Monday, August 4, 2014

17:12B-106. Acceptance of accounts in name of one or more administrators, custodians, executors, guardians, trustees or other fiduciaries in trust for named beneficiar

17:12B-106.  Acceptance of accounts in name of one or more administrators, custodians, executors, guardians, trustees or other fiduciaries in trust for named beneficiary    Any association may accept accounts in the name of one or more administrators, custodians, executors, guardians, trustees, or other fiduciaries in trust for a named beneficiary or beneficiaries.

    (1) Any such fiduciary shall have such voting rights as are provided in section 126 of this act.

    (2) Any such fiduciary shall have power to open such an account and to make  a payment or payments to, and to withdraw from any such account in whole or in  part.

    (3) Unless the will or other instrument, or the court order or decree under  which such fiduciary is acting, provides otherwise, the withdrawal value of any  such account, and dividends thereon, or other rights relating thereto may be  paid or delivered, in whole or in part, to such fiduciary so long as such  fiduciary is living.  The payment or delivery to any such fiduciary or a  receipt or acquittance signed by any such fiduciary to whom any such payment or  any such delivery of rights is made shall be a valid and sufficient release and  discharge of an association for the payment or delivery so made.

    (4) Whenever a person holding an account in such a fiduciary capacity dies and no written notice of the revocation or termination of the fiduciary relationship shall have been given to an association and the association has no  notice of any other disposition of the beneficial estate, the withdrawal value  of such account, and dividends thereon, or other rights relating thereto may,  at the option of the association, be paid or delivered, in whole or in part, to  the beneficiary or beneficiaries.

    (5) Where such an account is opened or subsequently held by more than one fiduciary the association may accept payments made to such account and may pay any moneys to the credit of such account from time to time to, or pursuant to the order of any one or more of such cofiduciaries who shall be authorized in writing by all the cofiduciaries to make such payments or withdrawals, unless the will or other instrument or the court order or decree under which such cofiduciaries are acting otherwise provides.

17:12B-91. Payment when account terminated and one or more beneficiaries under, and one or more beneficiaries over, 16 years of age

17:12B-91.  Payment when account terminated and one or more beneficiaries under, and one or more beneficiaries over, 16 years of age    When a membership account is opened by a person or persons payable on death  to a beneficiary or beneficiaries in the manner provided in the "Multiple-party Deposit Account Act,"  and the amount is terminated as provided in section 5b(2) of said act,

    and where one or more of the named beneficiaries are under 16 years of age and the remainder of the named beneficiaries are 16 years of age or over, the associations shall pay the moneys to the credit of the trust, less all proper set-offs and charges to:

     a.  The named beneficiaries 16 years of age or over at the time of termination of said account shall be paid pursuant to section 89 of this act, and

     b.  The named beneficiaries under 16 years of age at the time of termination of said account shall be paid pursuant to section 90 of this act.

17:12B-90. Payment to credit of account when beneficiaries under 16 years of age

17:12B-90.  Payment to credit of account when beneficiaries under 16 years of age    When a membership account is opened by a person or persons payable on death  to a beneficiary or beneficiaries in the manner provided in the "Multiple-party Deposit Account Act,"  and the account is terminated as provided in section 5b(2) of said act, and if the named beneficiary or all of the beneficiaries so named survive the death of the person or persons opening such an account and are under 16 years of age at such time, the association shall pay the moneys to the credit of the account, less all proper set-offs and  charges.

    a.  When or after the named beneficiary becomes 16 years of age, to the named beneficiary or upon his order, or

    b.  When more than one beneficiary is named, the association shall pay to the beneficiary so named his proportionate interest in such account as he becomes 16 years of age, or

    c.  To the legal guardian of the named beneficiary, wherever appointed, or where more than one beneficiary is named, the association shall pay such beneficiary's proportionate interest in such account to his legal guardian wherever and whenever appointed, or

    d.  If a certificate of appointment of a legal guardian is not filed with the association, to a person authorized to receive such moneys, or proportionate interest thereof, pursuant to sections 3A:6-31 and 3A:6-32 of the  New Jersey Statutes.

17:12B-89 . Payment to credit of account of beneficiaries or their order

17:12B-89 .  Payment to credit of account of beneficiaries or their order
    When a membership account is opened by a person or persons payable on death  to a beneficiary or beneficiaries in the manner provided in the "Multiple-party Deposit Account Act" , and the account is terminated as provided in section 5b(2) of said act, and if the named beneficiary or one of the beneficiaries so named survive the death of the person or persons opening such an account and the beneficiary or all of the beneficiaries so named are 16  years of age or over at the death of the person or persons opening such an account, the association shall pay the moneys to the credit of the account, less all proper set-offs and charges, to the named beneficiary or beneficiaries  or upon his or their order, and such payment by the association shall be valid,  notwithstanding any lack of legal age of the named beneficiary or  beneficiaries.

18:26-11.32 Penalty for failure to obtain consent or give notice--Inheritance Tax

18:26-11.32 Penalty for failure to obtain consent or give notice--Inheritance Tax

   (a) Any bank, banking institution, safe deposit company, trust company, other institution, association, organization, corporation or person who fails to obtain the written consent of the Director, allow an examination or give notice as provided in this Chapter is liable to pay the amount of the tax and interest due or which becomes due upon the securities, deposits, shares of stock or other assets transferred or delivered and in addition is liable to a penalty of $ 1,000.00 which may be enforced in an action at law in the name of the State.

(b) A safe deposit company, trust company, bank, other institution, corporation or person is not liable to the tax and interest or penalty provided in subsection (a) of this Section, where it or he delivers securities, deposits shares of stock or other assets belonging to or standing in the names of two or more persons to one of such persons without knowledge or reasonable ground to believe that another one of such persons is dead.

 

18:26-11.31 Notice

N.J.A.C. 18:26-11.31 (2014)

§ 18:26-11.31 Notice

   (a) The notice required by N.J.A.C. 18:26-11.30 is to be given by mailing Form 0-71 to the Division of Taxation, Transfer Inheritance and Estate Tax Section, PO Box 249, Trenton, New Jersey 08695-0249 as soon as practicable after the death of the decedent, but in any event not later than 10 days after any part of the sum or sums required to be reported therein have been paid and by advertising each beneficiary listed on the form that information regarding death claim payments is being supplied to the State pursuant to the requirements of the Division of Taxation and that it is the position of the Division of Taxation that a beneficiary may, in the absence of State or Federal statutes to the contrary, be personally liable for any and all inheritance and/or estate taxes until paid.

(b) Completed Forms 0-71 may be mailed to the Division on a monthly basis. A completed Form 0-71 which is made part of a monthly mailing will be deemed to have been mailed in a timely manner provided that the monthly mailing is within one month of the date on which the form would otherwise be required to be mailed.

(c) Nothing herein may be taken to relieve an informant of any liability imposed by statute in any instance where it has failed to file notice as provided herein. The Director reserves the right to direct, at any time, that any sum or sums not yet paid over shall be withheld by the informant pending further order of the Director where that course is deemed imperative to protect the interest of the State.

18:26-11.30 Life insurance companies

N.J.A.C. 18:26-11.30 (2014)

§ 18:26-11.30 Life insurance companies

   (a) All corporations, associations, societies, or other organizations, incorporated, or organized under the laws of this State to transact the business of life insurance or to grant annuities, and all corporations, associations, societies or other organizations, incorporated or organized elsewhere and authorized by the New Jersey Commissioner of Banking and Insurance to transact the business of life insurance or to grant annuities within this State must give notice to the Director, at the time and in the manner and form hereinafter prescribed, of all sums payable by them on or after April 7, 2003, as a result of the death of a resident of the State:

1. Under the terms of life insurance policies, endowment policies and annuity contracts owned by a decedent or paid to a partnership, firm or corporation entitled to receive payment in its own right in those instances where a decedent held an interest in the partnership, firm or corporation at death; and

2. Under the terms of a supplementary optional settlement or similar contract issued to effectuate the distribution of benefits under life insurance policies, endowment policies and annuity contracts except when the sums payable represent a continuation of payments under a policy or contract which provided for such payment at a prior decedent's specific direction.

(b) The written consent of the Director is not required to release any sums payable referenced in (a) above.

(c) Neither the written consent of the Director nor notice to the Director is required to release any sums payable referenced in (a) above when payment is made outright to the decedent's surviving spouse/civil union partner.

(d) Neither the written consent of the Director nor notice to the Director is required to release any sums payable under pension or retirement plans (including group annuity contracts) legally owned by an employer or qualified trust. See N.J.A.C. 18:26-11.13(a)4.

18:26-11.29 Transfer of stock of a New Jersey corporation

N.J.A.C. 18:26-11.29 (2014)

§ 18:26-11.29 Transfer of stock of a New Jersey corporation

   (a) No corporation organized under the laws of this State may transfer any of its stock standing in the name of or belonging to a resident decedent or in the joint names of such a decedent and one or more persons, or in trust for a resident decedent, unless the written consent of the Director is first obtained.

(b) The written consent of the Director is required in connection with the transfer of stock of a corporation organized under the laws of New Jersey when such stock represents shares issued as a stock dividend where the holder of record date is the same date as that on which the decedent died, or a date prior thereto, and such stock is received by the decedent's personal representative.

(c) The corporation issuing or paying its shares in the form of a stock dividend is responsible for obtaining from the representative of the estate the written consent of the Director for the transfer of all stock standing in the name of the decedent on its books as of the date of death and such additional shares as are issued as stock dividends subsequent to death where the holder of record date is prior to, or the same as, the date of death of the decedent.

(d) The written consent of the Director is required where stock of a New Jersey Corporation owned by a resident decedent is to be surrendered in exchange for the stock of any corporation whether title to the new

18:26-11.20 Release of safe deposit box contents

N.J.A.C. 18:26-11.20 (2014)

§ 18:26-11.20 Release of safe deposit box contents

   No safe deposit company, trust company, bank or other institution may deliver or transfer any securities, deposits or other assets contained in a safe deposit box within its control or possession which belongs to or stands in the name of a resident decedent, principal of a one person corporation or in the joint names of a resident decedent and one or more other persons, unless a release is obtained from the Transfer Inheritance Tax Branch. A blanket release will be issued to safe deposit companies, trust companies, banks and other institutions which will allow for release of the contents of all safe deposit boxes without inspection by the Division.

Friday, August 1, 2014

Evicting Deadbeat Tenants who don't Pay the Rent

video

Bond Required in Administration if No Will in NJ

video

Sale of House in a Probate after Parents Die

video

Challenging the Executor who does not wrap up the Estate

video

18:26-11.19 Transfer of collateral

N.J.A.C. 18:26-11.19 (2014)

§ 18:26-11.19 Transfer of collateral

   (a) A State bank, State banking association, trust company, national bank, national banking association, safe deposit company or other institution, having in its possession, custody or control, securities or other assets pledged as collateral for a loan of a decedent, may, for the purpose of liquidating a loan or other debt due from a resident decedent:

1. Transfer such collateral from the name of the decedent to its own name upon receiving the written consent of the director; or

2. Sell such collateral to satisfy a loan of a decedent without the written consent of the director, except that where the collateral pledged consists of the stock of a New Jersey corporation, such stock cannot be transferred on the books of such corporation without the written consent of the director. Where any excess moneys are received from a sale, the written consent of the director must be obtained before delivery of such excess money to a proper party in interest; or

3. Deliver any collateral to the executor or administrator of a decedent upon full payment of the loan or debt without the written consent of the director.

18:26-11.18 Funds held in bank accounts

N.J.A.C. 18:26-11.18 (2014)

§ 18:26-11.18 Funds held in bank accounts

   (a) Bank accounts: Where funds are held on deposit in any bank to the credit of a person and payable on the death of such person to a named beneficiary, upon the death of the named beneficiary, no waiver is required to transfer or release the funds to such person, however, a waiver is required to transfer or release such funds to the beneficiary upon the death of the principal.

(b) Double dollar accounts: Where, upon the death of a decedent having funds on deposit to his credit, individually, in a joint account with right of survivorship or trustee account, in a banking institution located in New Jersey, there is credit to the account the proceeds of a life insurance contract, the consent of the director is required to release the amount on deposit after credited thereto the proceeds of the life insurance policy. In order to determine the taxability thereof, the type of account is to be indicated on the return.

18:26-11.17 Funds held in a banking institution

N.J.A.C. 18:26-11.17 (2014)

§ 18:26-11.17 Funds held in a banking institution

   Except as otherwise indicated in this chapter, unless a waiver is first obtained, no banking institution, trust company or safe deposit company organized under the laws of the State of New Jersey; national bank operating in the State of New Jersey; building and loan or savings and loan association organized under the laws of the State of New Jersey; credit unions chartered by the United States operating in the State of New Jersey; or corporation, or person may release or transfer any funds, securities, deposits or other assets belonging to or on deposit to the credit of a decedent whether held:

1. In the name of the decedent individually, as co-depositor, jointly, trustee, agent, cestui que trust, or in any other capacity, excepting when held as custodian for a minor pursuant to N.J.S.A. 46:38-1 et seq.; or

2. As rental security deposits under the provisions of N.J.S.A. 47:8-19 [46:8-19] et seq.

18:26-11.16 Blanket waiver

N.J.A.C. 18:26-11.16 (2014)

§ 18:26-11.16 Blanket waiver

   (a) Notwithstanding any other section contained in this chapter, regarding the release of funds; any banking institution, trust company or safe deposit company organized under the laws of this State; national bank operating in this State, building and loan or savings and loan association organized in this State; or credit union chartered by the United States and operating in this State; corporation or person may release any amount up to 50 percent of the entire amount of funds on hand held in deposit, which belong to or stand in the name of a resident decedent or in the joint names of such decedent and one or more other persons, to:

1. An executor;

2. Administrator;

3. Legal representative of the decedent;

4. Surviving joint tenant;

5. Cestui que trust; or

6. The estate of a minor where title to said funds are held in the name of a custodian for said minor, without the written consent of the Director, upon the application of such proper party to the institution, association, organization, corporation or person above mentioned.

(b) The provisions of this section apply to each institution, association or organization, corporation or person listed above with whom a decedent has any funds on deposit, including Certificates of Deposit, and is limited to no more than 50 percent of the funds in the entire account whether such account is held in the decedent's name only or jointly with another so that where the decedent holds an account jointly, only one half of the funds may be released, not the half claimed by the joint owner and an additional half of the funds belonging to the decedent.

(c) In addition to the amount permitted to be released by an institution, association, organization, corporation or person mentioned in this section, institutions, associations, organizations, corporations, or persons may, without written consent of the Director:

1. Pay any and all checks drawn on any account owned by a decedent individually, jointly, or otherwise, when said checks are issued prior to death and presented for payment within 10 days following the decedent's date of death; except that in the event an executor, administrator, or other proper party above mentioned in this section shall apply for a release of 50 percent of the funds on deposit after 10 days from the decedent's death, the institution, association, organization, corporation, or person mentioned in this section holding the funds shall after having deducted the amount of any checks issued prior to and presented for payment within 10 days of the decedent's death, release 50 percent of the balance in a decedent's account to the proper party upon application and without the written consent of the Director;

2. Pay any checks in any amount for which there are sufficient funds held in deposit, drawn on any account owned by a decedent individually, jointly or otherwise, representing full or partial payment of any New Jersey Transfer Inheritance or Estate Taxes and made payable to New Jersey Inheritance and Estate Tax;

3. Liquidate the loan of any decedent who has pledged the pass book representing a savings account as collateral for a loan, where upon the death of such a decedent the loan is in default and then make 50 percent of the remaining funds available under the blanket waiver; but

(d) Securities of a New Jersey Corporation registered in the name of a decedent and issued by any bank, or savings and loan association situated in this State, are not subject to the Blanket Waiver rule provided for in this section. Therefore, the written consent of the Director must be obtained in order to transfer or release such assets.

(e) The Director reserves the right to direct, at any time that any sum or sums not yet paid over shall be withheld by the informant pending further order of the Director where that course is deemed imperative to protect the interest of the State.

18:26-11.15 Certain small estates not subject to waiver

N.J.A.C. 18:26-11.15 (2014)

§ 18:26-11.15 Certain small estates not subject to waiver

   (a) If the gross estate of a resident decedent which for tax purposes does not exceed $ 5,000 where the applicant is the spouse/civil union partner of the decedent or $ 200.00 where another person is the applicant, and the spouse/civil union partner or other applicant furnishes a bank, savings institution, or a savings and, loan association with an affidavit in lieu of administration which has been obtained from the Surrogate of the County wherein the decedent died a resident, such bank, institution or association may release the funds on deposit to the credit of a resident decedent without the written consent of the Director upon the spouse/civil union partner or other applicant executing Form 0-80 or 0-83.

(b) Form 0-83, used by a spouse/civil union partner or Form 0-80, used by any other applicant, is to be obtained only from a bank, savings institution or savings and loan association and executed concurrently with the release of any funds. Every bank institution or association is required to obtain such forms directly from the Transfer Inheritance Tax Section of the Individual Tax Audit Branch, PO Box 249, Trenton, New Jersey 08695-0249, and is further required to obtain the following information from each applicant before the release of any funds to be assured that the total assets of the estate are less than $ 5,000 or $ 200.00 as the case may be:

1. The total amount on deposit in all bank accounts wherever situated, whether in the name of the decedent individually, jointly, or in trust for another;

2. The total redemption value of any United States Savings Bonds title to which is held in the name of the decedent either individually, jointly, or payable on death to another;

3. The total value of any tangible property owned by the decedent such as automobiles, jewelry and household goods;

4. The total value of any benefits paid or payable under a group annuity plan, retirement plan, or profit sharing plan of decedent's employer;

5. Whether the decedent was the lessee of a safe deposit box individually or jointly; but (see (c) below).

(c) The provisions of this section do not apply and therefore, except as provided under the Blanket Waiver, (see N.J.A.C. 18:25-11.16) a bank, savings institution, or savings and loan association is prohibited from releasing any funds of a resident decedent where:

1. Letters of testamentary or of general administration have been or are to be issued;

2. The decedent was the lessee, individually or jointly, of a safe deposit box;

3. There will be payable either to the estate of the decedent or to a beneficiary, any amount under a group annuity plan, retirement plan, or profit sharing plan;

4. The decedent has made a transfer of property within three years of the date of death without having received equal financial consideration therefor; and (see (d) below).

(d) In determining the value of a gross estate for tax purposes, under this section, the entire amount of any funds on deposit to the credit of a resident decedent in any bank, savings institution or savings and loan association, including the full value of any United States Savings Bonds must be included in the total value of such decedent's estate even though title to any such items is held jointly by the decedent and another; and (see (e) below).

(e) This section does not apply to the estate of any nonresident decedent or to the estate of a decedent which is administered under the provision of N.J.S.A. 3A:6-5, where the value thereof for tax purposes, exceeds $ 5,000 or $ 200.00 as the case may be.

 

18:26-11.14 Exempt property not subject to waiver

N.J.A.C. 18:26-11.14 (2014)

§ 18:26-11.14 Exempt property not subject to waiver

   The written consent of the Director is not required for the transfer of any property exempt or not includible for purposes of the New Jersey Transfer Inheritance Tax Act and the New Jersey Estate Tax Act. The property sought to be treated as exempt for purposes of the State death transfer tax statutes must not be includible in the gross estate of the decedent regardless of whether the tax at issue is the New Jersey Estate Tax or the New Jersey Inheritance Tax.

18:26-11.13 Transfer of tangible or intangible personal property

N.J.A.C. 18:26-11.13 (2014)

§ 18:26-11.13 Transfer of tangible or intangible personal property

   (a) A waiver is not required in order to transfer all other tangible or intangible personal property, including but not limited to:

1. Wages;

2. Salaries;

3. Vacation and sick leave pay;

4. Payment under pension, profit sharing, bonus plans or stock purchase plans;

5. All automobiles;

6. Mortgages;

7. Accounts Receivable;

8. Household goods;

9. Personal effects;

10. Funds held in an account in the name of a funeral director in trust for a decedent in accordance with the provisions of N.J.S.A. 2A:102-13 (advance funeral payment);

11. Funds to a decedent's credit in a Credit Union plan organized under N.J.S.A. 17:13-26 et seq. in addition to any matching sums paid under any type of Credit Union plan in the form of a life insurance where said matching sum is directed to be paid to a decedent's estate or his executor or administrator. However, funds held under the Federal Credit Union Act must be reported and a waiver obtained.

(b) Any property, the transfer of which is not subject to first obtaining a waiver, must, nevertheless, be reported on a decedent's return.

(c) Transfer of property held by revocable and irrevocable trusts may be taxable pursuant to N.J.S.A. 54:34-1c either as transfers intended to take effect at or after death or as transfers made in contemplation of death. Waivers are not issued for these transfers, but property must be properly reported in accordance with subsection (b) of this section.

18:26-11.12 Transfer of assets held by nonresident custodian

N.J.A.C. 18:26-11.12 (2014)

§ 18:26-11.12 Transfer of assets held by nonresident custodian

   A waiver is not required in order to transfer any assets held by a nonresident custodian on behalf of a resident or nonresident decedent.

18:26-11.11 Transfer of partnership interest

N.J.A.C. 18:26-11.11 (2014)

§ 18:26-11.11 Transfer of partnership interest

   The written consent of the Director is not required for the transfer of real or personal property, tangible or intangible, owned by a bona fide partnership in which a decedent had an interest.

18:26-11.10 Transfer from joint fiduciaries to successors

N.J.A.C. 18:26-11.10 (2014)

§ 18:26-11.10 Transfer from joint fiduciaries to successors

   Bonds and/or stock of a New Jersey corporation or a national bank located in New Jersey or any money deposited in any trust company, bank or other institution in the names of two or more fiduciaries as executors, administrators, trustees or guardians, may, upon the death of one or more of such fiduciaries, be transferred without a New Jersey Transfer Inheritance Tax and a New Jersey Estate Tax waiver, to, or on the order of, the surviving fiduciary or fiduciaries.

18:26-11.9 From one fiduciary to another

N.J.A.C. 18:26-11.9 (2014)

§ 18:26-11.9 From one fiduciary to another

   Bonds and/or stock of a New Jersey Corporation or a national bank located in New Jersey, or any money deposited in any trust company, bank or other institution in the name of one court appointed fiduciary as executor, administrator or trustee or guardian, may, upon the death of such fiduciary, be transferred without a New Jersey Transfer Inheritance Tax and a New Jersey Estate Tax waiver to, or on the order of, the legally appointed substitute for the deceased fiduciary.

18:26-11.8 Transfers to savings accounts without a waiver

N.J.A.C. 18:26-11.8 (2014)

§ 18:26-11.8 Transfers to savings accounts without a waiver

   (a) Funds of a decedent on deposit in a checking account in any bank may be transferred to an interest bearing account in the same bank in the name of the decedent or his estate without obtaining a waiver.

(b) Funds of a decedent on deposit in an Individual Retirement Account (IRA) and/or Keogh retirement plan account may be transferred to another account in the same bank without obtaining a waiver.

(c) Any certificate of deposit or any type of a preferred account containing funds of a decedent may be transferred to another account in the same bank without obtaining a waiver.

(d) The transfers permitted in (a) through (c) above are subject to the requirement that the banking institution promptly file a notice with the Transfer Inheritance and Estate Tax Section of the Individual Tax Audit Branch, PO Box 249, Trenton, New Jersey, 08646-0249, containing the following information:

1. Decedent's name;

2. Date of death and domicile;

3. Name and address of executor or administrator of estate;

4. The account number, or certificate number, sought to be transferred and the balance on deposit or the maturity value as of the date of death.

(e) In any event, the bank is required to retain the same control over the substituted account as the original account until the New Jersey Inheritance Tax and the New Jersey Estate Tax are provided for and paid.

18:26-11.7 Share of a deceased beneficiary

N.J.A.C. 18:26-11.7 (2014)

§ 18:26-11.7 Share of a deceased beneficiary

   In any case where a beneficiary dies prior to the settlement of an estate in which such beneficiary is entitled to receive a share or interest, the executor or administrator of the first estate must first obtain a waiver before transferring such share or interest.

18:26-11.6 Mortgage participation certificates

N.J.A.C. 18:26-11.6 (2014)

§ 18:26-11.6 Mortgage participation certificates

   In order to effect the transfer of any mortgage participation certificates registered in the name of a decedent of which belong to a decedent even though held in the name of another, it is necessary to obtain a waiver.

18:26-11.5 Leasehold interest


N.J.A.C. 18:26-11.5 (2014)

§ 18:26-11.5 Leasehold interest

   The written consent of the Director is required to transfer any leasehold or chattels real, which a decedent owned or in which a decedent had an interest.

18:26-11.4 Real and personal property of resident and nonresident decedents

N.J.A.C. 18:26-11.4 (2014)

§ 18:26-11.4 Real and personal property of resident and nonresident decedents

   (a) Waivers consenting to the transfer of real property located in New Jersey are necessary for estates of resident decedents or estates of decedents whereby guardians have been appointed for the deceased prior to his death; except, that real property held by a husband and wife/civil union couple as tenants by the entirety must be transferred without a waiver in the estate of the spouse dying first.

(b) An inheritance tax waiver is required for a period of 15 years from the date of such decedent's death and if the decedent died after December 31, 2001 an estate tax waiver is required for an unlimited period in order to effect the transfer or delivery of the real or personal tangible or intangible property specified in N.J.A.C. 18:26-11.1, Consent to transfer; generally, which the decedent owned or in which he had an interest at the date of death.

(c) Inheritance tax waivers are necessary to transfer any real property located in New Jersey belonging to a nonresident decedent. Such waivers are issued after the nonresident decedent return is filed with the Transfer Inheritance Tax Branch and the tax, if any, is adjusted and paid.

18:26-11.3 Consent to transfer not issued

N.J.A.C. 18:26-11.3 (2014)

§ 18:26-11.3 Consent to transfer not issued

   (a) Before the Director issues any Inheritance Tax consents to transfer the assets of a person dying domiciled in this State, it is required that proof be submitted showing the will of such decedent was originally probated in New Jersey, or that letters of administration were originally granted in this State. If it appears that original probate or original administration was had in a foreign jurisdiction, all consents to transfer the decedent's assets will be withheld and a report made to the county court of the county in which a decedent died domiciled, or to the Superior Court until an order is issued from the court.

(b) The provisions of (a) above shall not apply in cases where it appears to the Director that neither the probate of a decedent's will nor the grant of letters of administration are required by the laws of this State. In any case, however, the Director may, at his discretion, issue any and all Inheritance Tax consents to transfer the assets of a decedent where in his judgment, the collection of the Transfer Inheritance Tax payable to New Jersey would be jeopardized by the withholding of such consent.