New Jersey § 17:16I-14 Effect of transfer by right of survivorship

New Jersey Statutes

§ 17:16I-14 — Effect of transfer by right of survivorship

New Jersey § 17:16I-14

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

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Bluebook

N.J. Stat. Ann. § 17:16I-14 (2026).

Text

Any transfers resulting from the application of section 5 are effective by reason of the account contracts involved and this act, and are not to be considered as testamentary. The right of any surviving party to a joint account, or of any beneficiary, or of any P.O.D. payee, to the sums on deposit on the death of any party to a multiple-party account maintained in any financial institution, shall not be denied, abridged or in anywise affected because such right has not been created by a writing executed in accordance with the laws of this State prescribing the requirements to effect a valid testamentary disposition of property. L.1979, c. 491, s. 14.

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Any transfers resulting from the application of section 5 are effective by reason of the account contracts involved and this act, and are not to be considered as testamentary. The right of any surviving party to a joint account, or of any beneficiary, or of any P.O.D. payee, to the sums on deposit on the death of any party to a multiple-party account maintained in any financial institution, shall not be denied, abridged or in anywise affected because such right has not been created by a writing executed in accordance with the laws of this State prescribing the requirements to effect a valid testamentary disposition of property. L.1979, c. 491, s. 14.