N.J. Admin. Code § 18:26-10.2

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:26-10.2 - Lien of tax; duration

(a) The New Jersey transfer inheritance tax whether or not assessed or levied constitutes a lien on all the property owned by the decedent as of the date of death for a period of 15 years unless sooner paid or secured by a bond.

(b) After a period of 15 years from the date of a decedent's death has expired no proceeding may be instituted to assess and collect the New Jersey transfer inheritance tax or any interest or penalties due thereon. No notice or consent to transfer is required for the transfer of any real or personal property and no personal liability remains on any executor, administrator, trustee, grantee, donee, buyer, devisee, legatee, heir, next of kin, or beneficiary; however, this does not affect any right of the State under any certificate of debt, decree, or judgment for taxes, interest, and penalties duly recorded with the clerk of the Superior Court, or with any county clerk, or to assess and enforce the collection of any tax including any interest and penalties pursuant to the terms of any bond or other agreement securing the payment of the tax, interest, and penalties.

Adopted by 50 N.J.R. 1624(a), effective 7/16/2018