| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 3A, ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
Chapter 16: Sale free from dower or curtesy; order of court; deed to purchaser
Section: 3A:16-17: Compensation to dower or curtesy holder by lump sum or investment
When a right or estate of dower or curtesy is sold pursuant to section 3A:16-16 of this title, the court shall direct payment of such sum in gross out of the proceeds of the sale of the real estate to the person entitled to such right or estate, as shall be deemed a just and reasonable satisfaction therefor, and which the person so entitled shall consent in writing to accept in lieu thereof. If no such consent is given, the court shall ascertain and determine what proportion of the proceeds will be a just and reasonable sum to be invested for the benefit of the person entitled to such right or estate, and shall direct that such sum be invested under direction and control of the court for the benefit of the parties entitled, and that the income thereon be paid to them as it becomes due as a compensation for, and in lieu of the right or estate of dower or curtesy, and that at the death of the person entitled to the income the principal sum be paid to or distributed among the parties entitled thereto.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 3a:16-17 (if available):
Court decisions that cite this statute:
CLICK HERE.