3B:14-1 - Survivorship and succession among cofiduciaries;Ā duties and powers
3B:14-1.Ā Survivorship and succession among cofiduciaries;Ā duties and powers
There shall be survivorship and succession between and among cofiduciaries. If only one fiduciary survives or remains qualified to act, no substitutedĀ fiduciary need be appointed to act in the place of any cofiduciary who may haveĀ died or may have been removed, discharged or otherwise disabled to act.
The surviving fiduciary or cofiduciaries shall proceed with the duties of the office and shall be entitled to the property and assets, and to sue for andĀ recover them, and to sell and convey them, as if the remaining fiduciary orĀ cofiduciaries had been solely appointed to the office.
L.1981, c. 405, s. 3B:14-1, eff. May 1, 1982.
Ā
There shall be survivorship and succession between and among cofiduciaries. If only one fiduciary survives or remains qualified to act, no substitutedĀ fiduciary need be appointed to act in the place of any cofiduciary who may haveĀ died or may have been removed, discharged or otherwise disabled to act.
The surviving fiduciary or cofiduciaries shall proceed with the duties of the office and shall be entitled to the property and assets, and to sue for andĀ recover them, and to sell and convey them, as if the remaining fiduciary orĀ cofiduciaries had been solely appointed to the office.
L.1981, c. 405, s. 3B:14-1, eff. May 1, 1982.
Ā