Title 46, Title 46: PROPERTY

46:2A-1. Power of appointment; release or contract not to exercise authorized A person to whom any legal or equitable power of appointment, whether coupled with an interest or not, is given, may, by deed, release, or covenant or contract not to exercise, the power. L.1943, c. 57,…

46:2A-2. Release as to whole or part of property; manner of release Said person may release such power: (a) with respect either to the whole, or to any part, of the property subject thereto; (b) in such manner as to reduce the number of, or to limit, the persons or objects, or cl…

46:2A-3. Contract not to exercise power Said person may covenant or contract not to exercise such power: (a) with respect to a part only of the property subject thereto; (b) in favor of any persons or objects, or classes of persons or objects, to whom or for whose benefit an appo…

46:2A-4. Application of act to what powers and instruments This act shall apply to powers of appointment created by instruments coming into operation either before or after this act takes effect; provided, that it shall not apply where such instrument expressly prohibits a releas…

46:2A-5. Deed, covenant or contract where power is created; acknowledgment; filing Such deed, covenant or contract, where the power has been or shall be created by: (a) a last will and testament, shall be acknowledged in the same manner as conveyances of land, and shall be record…

46:2B-10. Definitions 1. As used in this act: "Account" means an agreement between a banking institution and its customer pursuant to which the banking institution accepts funds or property of the customer and agrees to repay or return the funds or property upon the terms and con…

46:2B-11. Authority of agent If any power of attorney contains language which confers authority on the agent to "conduct banking transactions as set forth in section 2 of P.L.1991, c.95 (C.46:2B-11)", the agent shall have the following authority under the power of attorney: a. To…

46:2B-12. Powers of agent An agent may exercise all powers described in this act exercisable by the principal upon and after the presentation of the power of attorney to the banking institution with respect to any banking transaction whether conducted in this or any other state. …

46:2B-13. Banking institutions to accept power of attorney 4. With respect to banking transactions, banking institutions shall accept and rely on a power of attorney which conforms to this act and shall permit the agent to act and exercise the authority set forth in this act, pro…

46:2B-14. Banking institutions not liable for action in reliance on power of attorney No banking institution acting in reliance on a power of attorney as set forth in this act, nor any person acting on behalf of such an institution, shall be held liable for injury for any act or …

46:2B-15. Limitations on power of agent Nothing in this act shall be deemed to give an agent any greater authority or rights than the principal could exercise on his own behalf. L.1991,c.95,s.6.

46:2B-16. Banking transaction by agent binds principal Any banking transaction made by an agent or banking institution under the authority of a power of attorney described in this act, unless otherwise invalid or unenforceable, binds the principal and his heirs, devisees, and per…

46:2B-17. Power of attorney not made pursuant to this act valid This act is not intended to be the exclusive method of providing for powers of attorney for bank transactions and nothing herein shall be deemed to invalidate or make inoperable any power of attorney which is not mad…

46:2B-18. Banking institution may retain copy of power of attorney The banking institution may retain a photocopy of the original signed power of attorney presented to it pursuant to subsection f. of section 4 of this act or may retain and rely upon the certified copies of the or…

46:2B-19. Agent acting pursuant to power of attorney shall be a fiduciary An agent presenting or acting pursuant to or relying on a power of attorney described in section 2 of this act shall be a fiduciary within the meaning of the "Uniform Fiduciaries Law," P.L.1981, c.405 (C.3B…

46:2B-8.1 Short title. 1. This act shall be known and may be cited as the "Revised Durable Power of Attorney Act." L.2000,c.109,s.1.

46:2B-8.10 Revocation. 10. Revocation. A power of attorney is revoked when the principal has caused all executed originals of the power of attorney to be physically destroyed; or when the principal has signed and caused to be acknowledged in the manner set forth in R.S.46:14-2.1 …

46:2B-8.11 Certified copies and photocopies. 11. Certified Copies and Photocopies. Any third party to whom the power of attorney is presented may retain and rely upon a photocopy of the original signed document, or may retain and rely upon a certified copy of the original. L.2000…

46:2B-8.12 Compensation of the attorney-in-fact. 12. Compensation of the Attorney-in-Fact. A principal shall have the power to direct whether an attorney-in-fact is to be compensated in a power of attorney or in a separate written agreement dealing with compensation. A principal …

46:2B-8.13 Fiduciary status and duty to account. 13. Fiduciary Status and Duty to Account. a. An attorney-in-fact has a fiduciary duty to the principal, and to the guardian of the property of the principal if the principal has been adjudicated an incapacitated person, to act with…

46:2B-8.13a. Power of attorney; gift of principal's property; prohibited 1. A power of attorney shall not be construed to authorize the attorney-in-fact to gratuitously transfer property of the principal to the attorney-in-fact or to others except to the extent that the power of …

46:2B-8.14 Application of act. 14. The provisions of this act shall hereafter apply to any power of attorney made pursuant to the provisions of P.L.1991, c.95 (C.46:2B-10 et seq.) relating to banking transactions under a power of attorney. This act shall complement and not supers…

46:2B-8.2 Powers of attorney; durable powers of attorney; disability defined. 2. Powers of Attorney; Durable Powers of Attorney; Disability Defined. a. A power of attorney is a written instrument by which an individual known as the principal authorizes another individual or indiv…

46:2B-8.3 Durable power of attorney not affected by lapse of time; disability or incapacity. 3. Durable Power of Attorney Not Affected By Lapse of Time; Disability or Incapacity. All acts done by an attorney-in-fact pursuant to a durable power of attorney during any period when t…

46:2B-8.4 Relation of attorney-in-fact to court-appointed fiduciary. 4. Relation of Attorney-in-Fact to Court-Appointed Fiduciary. a. If, following execution of a durable power of attorney, a court of the principal's domicile appoints a conservator, guardian of the estate, or oth…

46:2B-8.5 Power of attorney not revoked until notice. 5. Power of Attorney Not Revoked Until Notice. a. The death of a principal who has executed a written power of attorney, durable or otherwise, does not revoke or terminate the agency as to the attorney-in-fact or other person …

46:2B-8.6 Good faith reliance. 6. Good Faith Reliance. a. Any third party may rely upon the authority granted in a durable power of attorney until the third party has received actual notice of the revocation of the power of attorney, the termination or suspension of the authority…

46:2B-8.7 Multiple attorneys-in-fact. 7. Multiple Attorneys-In-Fact. a. Unless the power of attorney expressly provides otherwise, all authority granted to multiple attorneys-in-fact may be exercised by the one or more who remain after the death, resignation or disability of one …

46:2B-8.8 Delegation by attorney-in-fact. 8. Delegation by Attorney-in-Fact. If the power of attorney shall specifically provide, the attorney-in-fact, in the exercise of reasonable care, skill and caution, may delegate to other agents such one, more, or all of the specific power…

46:2B-8.9 Formality. 9. Formality. A power of attorney must be in writing, duly signed and acknowledged in the manner set forth in R.S.46:14-2.1. L.2000,c.109,s.9.

46:2C-6. Trust created for exclusive benefit of employees as part of pension, disability, death or profit-sharing plan A trust consisting in whole or in part of real property, or personal property, or both heretofore or hereafter created by an employer as part of a pension plan, …

46:2C-7. Definitions "Employer" and "employee" as used herein include a self-employed person or persons, and "trust" includes trusts whose assets are commingled by the trustee with the assets of other trusts pursuant to any law authorizing the collective investment of trust funds…

46:2E-14 Disclaimer of interests previously governed by P.L.1979, c.492 (C.46:2E-1 to 46:2E-13). 93. A disclaimer of an interest by any person who is a grantee, donee, surviving joint tenant, surviving tenant by the entirety, surviving party to a joint deposit account, a P.O.D. a…

46:2F-10. Permissible period of power of alienation under trust, future interest 14. a. (1) A future interest or trust is void if it suspends the power of alienation for longer than the permissible period. The power of alienation is the power to convey to another an absolute fee …

46:2F-11. Applicability of C.46:2F-9 through C.46:2F-11 to property interests, powers of appointment 15. a. Except as provided in subsection b. of this section, sections 13 through 15 of this amendatory and supplementary act apply to: (1) a future property interest or a power of …

46:2F-9. Rule against perpetuities abrogated 13. No interest created in real or personal property shall be void by reason of any rule against perpetuities, whether the common law rule or otherwise. The common law rule against perpetuities shall not be in force in this State. L.19…

46:3-1. Feudal tenures abolished The feudal tenure estates, and the incidents thereof, taken away, discharged and abolished from and after March twelfth, one thousand six hundred and sixty-four, by section two of an act entitled "An act concerning tenures," passed February eighte…

46:3-10. Fines and common recoveries abolished From and after June twelfth, one thousand seven hundred and ninety-nine, no fine or common recovery that has been or shall be entered, made, had or suffered in any court of record of this state, shall operate or be construed to be a …

46:3-11. Collateral warranties by ancestor abolished A collateral warranty of real estate by an ancestor, who, at the time of making it, has no estate of inheritance in possession therein, shall be inoperative and void against his heirs.

46:3-12. Warranties by life tenant void as to reversioners or remaindermen A warranty made by a tenant for life of real estate shall be inoperative and void against all persons to whom such real estate shall descend or come in reversion or remainder.

46:3-13. Fee simple; creation by deed; construction favorable to creation Every deed conveying lands shall, unless an exception be made therein, be construed to include all the estate, right, title, interest, use, possession, property, claim and demand whatsoever, both in law and…

46:3-14. Rule in Shelley's Case abolished Whenever by conveyance, will or other instrument in writing, to take effect hereafter, an estate of freehold in any property is limited to a person and the same instrument contains a limitation, either mediate or immediate, to his heirs o…

46:3-15. Estates tail abolished Whenever any conveyance, will or instrument in writing shall hereafter be made, whereby any grantee, devisee or other person shall become seized in law or in equity of such estate in any real estate, as under the Statute of the Thirteenth of Edward…

46:3-16. Buildings and other things included in deeds to land Every deed conveying land shall, unless an exception shall be made therein, be construed to include all and singular the buildings, improvements, ways, woods, waters, watercourses, rights, liberties, privileges, heredi…

46:3-17. Tenancies in common; joint tenancies From and after February fourth, one thousand eight hundred and twelve, no estate shall be considered and adjudged to be an estate in joint tenancy, except it be expressly set forth in the grant or devise creating such estate that it w…

46:3-17.1. Joint tenancies; creation Any conveyance of real estate, hereafter made, by the grantor therein, to himself and another or others, as joint tenants shall, if otherwise valid, be as fully effective to vest an estate in joint tenancy in such real estate in the grantees t…