3B:23-12 - Abatement generally - New Jersey Statutes

3B:23-12  Abatement generally.

3B:23-12. Except as provided in N.J.S.3B:23-14 and except as provided in connection with the share of a surviving spouse who elects to take an elective share, shares of distributees abate, without any preference or priority as between real and personal property, in the following order:

a.Property passing by intestacy;

b.Residuary devises;

c.General devises;

d.Specific devises; and

e.Abatement within each classification is in proportion to the amount of property each of the beneficiaries would have received if full distribution of the property had been made in accordance with the terms of the will.

Amended 2004, c.132, s.86.