3B:27-3 - Protection of personal representative or trustee making distribution - New Jersey Statutes

3B:27-3.  Protection of personal representative or trustee making distribution    A personal representative or trustee who pays over or delivers a devise, distributive share or any interest in property held in trust, to which a person  declared dead by virtue of this chapter would, if living, be entitled, or which  is given to a person so declared dead, for life or otherwise, with a limitation  over to take effect in possession or enjoyment at or after the death of that  person, shall be fully discharged from any and all liability to the person so  declared dead, and to his personal representative and all persons claiming  under him, upon filing with the surrogate of the proper county, or the clerk of  the Superior Court as the case may be, the releases of the persons who would be entitled to the devise, share or interest if the person so declared to be dead  were actually dead, together with their refunding bonds to the fiduciary.  The bond shall be in the amount or value of the money or property so distributed,  without sureties and upon the condition that the money or property so  distributed will be refunded to the fiduciary in the event that the refunding  should be required.  Any person claiming the devise, share or interest may sue  upon the bond as if it had been assigned to him.

     L.1981, c. 405, s. 3B:27-3, eff. May 1, 1982.