New Jersey § 3b:19b-27
Full text of New Jersey New Jersey Statutes § 3b:19b-27, with citation guidance and answers to common questions.
§ 3b:19b-27.
a. If a trustee makes or expects to make a principal disbursement described in this
section, the trustee may transfer an appropriate amount from income to principal in
one or more accounting periods to reimburse principal or to provide a reserve for
future principal disbursements. b. Principal disbursements to which subsection a. of this section applies include
the following, but only to the extent that the trustee has not been and does not expect
to be reimbursed by a third party: (1) an amount chargeable to income but paid from principal because it is unusually
large, including extraordinary repairs; (2) disbursements made to prepare property for rental, including tenant allowances,
leasehold improvements and broker's commissions; and (3) periodic payments on an obligation secured by a principal asset to the extent
that the amount transferred from income to principal for depreciation is less than
the periodic payments. c. If the asset whose ownership gives rise to the disbursements becomes subject to
a successive income interest after an income interest ends, a trustee may continue
to transfer amounts from income to principal as provided in subsection a. of this
section.
Frequently Asked Questions About New Jersey § 3b:19b-27
What does New Jersey Statutes § 3b:19b-27 cover?
Section 3b:19b-27 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 3b:19b-27?
A common citation format is "New Jersey Statutes § 3b:19b-27" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 3b:19b-27 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.