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

Thursday, August 25, 2016

NJSA 3B:3-44 Specific Devise; Right of Devisee After Sale, Condemnation, Casualty Loss or Foreclosure

3B:3-44 Specific devise; right of devisee after sale, condemnation, casualty loss or foreclosure
3B:3-44. A specific devisee has the right to the remaining specifically devised property in the testators estate at death and:

a.Any balance of the purchase price (together with any security interest) owing from a purchaser to the testator at death by reason of sale of the property;

b.Any amount of a condemnation award for the taking of the property unpaid at death;

c.Any proceeds unpaid at death on fire or casualty insurance on, or other recovery for injury to, the property; and

d.Property owned by testator at his death as a result of foreclosure, or obtained in lieu of foreclosure, of the security for a specifically devised obligation.

L.1981, c.405, s.3B:3-44, eff. May 1, 1982; amended 2004, c.132, s.37.

No comments: