3B:22-33 - Claims not presented in time barred; exception; extension of time - New Jersey Statutes

3B:22-33.  Claims not presented in time barred;  exception;  extension of time    If an estate is adjudged insolvent, any creditor who fails to exhibit his claim to the personal representative within the time limited and prescribed by N.J.S. 3B:22-4 shall be forever barred from prosecuting or recovering thereon unless the estate shall prove sufficient, after all claims exhibited and allowed are fully satisfied, or the creditors shall find some other asset not accounted for by the personal representative before distribution, in which case  the creditor shall receive his ratable proportion therefrom.  However, the  court, before distribution made, may upon the application of any creditor of  any insolvent decedent and after notice to the personal representative, extend  the time within which claims may be presented by creditors of the decedent upon  terms as the court may deem just.

     L.1981, c. 405, s. 3B:22-33, eff. May 1, 1982.