2016 New Jersey Revised Statutes
Title 46 - Property
Section 46:30B-37 - Presumption Of Abandonment.

NJ Rev Stat § 46:30B-37 (2016) What's This?

46:30B-37 Presumption of abandonment.

46:30B-37. Presumption of abandonment. Property and any income or increment derived therefrom held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner, within three years after it has become payable or distributable, has increased or decreased the principal, accepted payment of principal or income, communicated concerning the property, or otherwise indicated an interest as evidenced by a contemporaneous memorandum or other record on file prepared by the fiduciary.

L.1989, c.58, s.1; amended 2002, c.35, s.26.

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