| 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: 3B, ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
Chapter 19b:
Section: 3B:19b-14: Rental property
14. Rental Property. To the extent that a trustee accounts for receipts from rental property pursuant to this section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods, shall be added to principal and held subject to the terms of the lease and is not available for distribution to a beneficiary until the trustee's contractual obligations have been satisfied with respect to that amount.
L.2001,c.212,s.14.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 3b:19b-14 (if available):
Court decisions that cite this statute:
CLICK HERE.