3B:23-3 - Method of distribution
3B:23-3.Ā Method of distribution
If the personal representative of either a testate or an intestate estate has, in the exercise of good faith and reasonable discretion, continued to holdĀ in kind the distributable assets of an intestate estate or of the residue of aĀ testate estate, the assets shall be distributed in kind if there is noĀ objection to the proposed distribution and it is practicable to distributeĀ undivided interests, otherwise those assets shall be converted into cash forĀ distribution.
L.1981, c. 405, s. 3B:23-3, eff. May 1, 1982.
Ā
If the personal representative of either a testate or an intestate estate has, in the exercise of good faith and reasonable discretion, continued to holdĀ in kind the distributable assets of an intestate estate or of the residue of aĀ testate estate, the assets shall be distributed in kind if there is noĀ objection to the proposed distribution and it is practicable to distributeĀ undivided interests, otherwise those assets shall be converted into cash forĀ distribution.
L.1981, c. 405, s. 3B:23-3, eff. May 1, 1982.
Ā