New Jersey Statutes 3B:20-7. Directions of court concerning the sale, conversion or retention of investments
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 3B:20-7
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Estate: means all of the property of a decedent, minor or incapacitated individual, trust or other person whose affairs are subject to this title as the property is originally constituted and as it exists from time to time during administration. See New Jersey Statutes 3B:1-1
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means an individual or corporation that is authorized to act as or acts as a trustee, personal representative, conservator, guardian, and every other individual or corporation charged with the duty of administering a trust estate. See New Jersey Statutes 3B:20-1
3B:20-7. Directions of court concerning the sale, conversion or retention of investments. When securities or other property come into possession of a fiduciary as part of the assets of the trust estate the fiduciary is to administer or manage, the fiduciary may apply to the court for direction as to the sale, conversion or retention of the securities or property.
The court shall make an order as it shall deem most advantageous to the trust estate and the interests of persons entitled to share therein.
Amended 1997, c.26, s.14.