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New Jersey Statutes, Title: 3B, ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
Chapter 22: Waiver of statutes of limitations
Section: 3B:22-20: Payment of claims where assets insufficient
If the estate either in this State or as a whole is insufficient to cover all claims and prior charges, each claimant whose claim has been allowed either in this State or elsewhere in administrations of which the personal representative is aware, is entitled to receive payment of an equal proportion of his claim. If a preference or security in regard to a claim is allowed in another jurisdiction but not in this State, the creditor so benefited is to receive dividends from local assets only upon the balance of his claim after deducting the amount of the benefit.
L.1981, c. 405, s. 3B:22-20, eff. May 1, 1982.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 3b:22-20 (if available):
Court decisions that cite this statute:
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