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Terms Used In New Jersey Statutes 3B:22-11

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
The personal representative shall, if satisfied that the claim is correct and should be paid, pay the claim or so much thereof as the amount of the assets available for distribution will permit. If not satisfied with the correctness thereof, the personal representative shall notify the claimant, his agent or attorney, to proceed forthwith to establish the disputed claim, or part thereof, by judgment. In that case the personal representative shall retain from the assets available for distribution a sum sufficient to pay the amount of the claim, together with interest and costs, until the claimant shall have had an opportunity to establish his claim by judgment.

L.1981, c. 405, s. 3B:22-11, eff. May 1, 1982.