New Jersey § 3B:24-3 Apportionment of tax where temporary interest is created

New Jersey Statutes

§ 3B:24-3 — Apportionment of tax where temporary interest is created

New Jersey § 3B:24-3

Title 3BADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS

This text of New Jersey § 3B:24-3 (Apportionment of tax where temporary interest is created) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 3B:24-3 (2026).

Text

Where a trust is created, or other provision made in any nontestamentary instrument whereby any person is given an interest in income, or an estate for years, or for life, or other temporary interest in any property or fund, the tax apportionable against both the temporary interest and the remainder thereafter shall, in the absence of directions to the contrary in the instrument, be charged against and paid out of the corpus of the property or fund without apportionment between remainders and temporary estates. The provisions of this section shall apply notwithstanding that the holder of the temporary interest is given rights to the corpus. L.1981, c. 405, s. 3B:24-3, eff. May 1, 1982.

Free access — add to your briefcase to read the full text and ask questions with AI

Where a trust is created, or other provision made in any nontestamentary instrument whereby any person is given an interest in income, or an estate for years, or for life, or other temporary interest in any property or fund, the tax apportionable against both the temporary interest and the remainder thereafter shall, in the absence of directions to the contrary in the instrument, be charged against and paid out of the corpus of the property or fund without apportionment between remainders and temporary estates. The provisions of this section shall apply notwithstanding that the holder of the temporary interest is given rights to the corpus. L.1981, c. 405, s. 3B:24-3, eff. May 1, 1982.