New Jersey § 3b:23-1
Full text of New Jersey New Jersey Statutes § 3b:23-1, with citation guidance and answers to common questions.
§ 3b:23-1.
Except where a will authorizes distribution to be made in cash or in kind, the distributable
assets of an intestate's estate or testator's estate shall be distributed in kind
to the extent reasonably possible through application of the following provisions: a. A specific devisee is entitled to distribution of the thing devised to him; b. Any devise payable in money or an intestate share may be satisfied by value in
kind provided: (1) The person entitled to the payment has not demanded payment in cash; (2) The property distributed in kind is valued at fair market value as of the date
of its distribution; and (3) No residuary devisee has requested that the asset in question remain a part of
the residue of the estate.
Frequently Asked Questions About New Jersey § 3b:23-1
What does New Jersey Statutes § 3b:23-1 cover?
Section 3b:23-1 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:23-1?
A common citation format is "New Jersey Statutes § 3b:23-1" (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:23-1 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.