New Jersey § 3b:23-7
Full text of New Jersey New Jersey Statutes § 3b:23-7, with citation guidance and answers to common questions.
§ 3b:23-7.
If property distributed in kind or a security interest therein is acquired for value
by a purchaser from or lender to a distributee who has received an instrument or deed
of distribution from the personal representative, or is so acquired by a purchaser
from or lender to a transferee from the distributee, the purchaser or lender takes
title free of rights of any interested person in the estate and incurs no personal
liability to the estate, or to any interested person, whether or not the distribution
was proper or supported by court order or the authority of the personal representative
was terminated before execution of the instrument or deed. This section protects a purchaser from or lender to a distributee who, as personal
representative, has executed a deed of distribution to himself, as well as a purchaser
from or lender to any other distributee or his transferee. To be protected under this provision, a purchaser or lender need not inquire whether
a personal representative acted properly in making the distribution in kind, even
if the personal representative and the distributee are the same person, or whether
the authority of the personal representative had terminated before the distribution. Any recorded instrument described in this section on which a State documentary fee
is noted pursuant to section 3 of P.L.1968, c. 49 ( C. 46:15-7 ) shall be prima facie evidence that the transfer was made for value.
Frequently Asked Questions About New Jersey § 3b:23-7
What does New Jersey Statutes § 3b:23-7 cover?
Section 3b:23-7 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:23-7?
A common citation format is "New Jersey Statutes § 3b:23-7" (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:23-7 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.