N.J. Admin. Code § 18:26-5.12

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

Section 18:26-5.12 - Powers of appointment; estates in expectancy

(a) Transfers are subject to the New Jersey transfer inheritance tax, where, by transfer of a resident decedent of real or tangible personal property within this State or of intangible personal property wherever situated, or by transfer of a nonresident decedent of real or tangible personal property within this State, a transferee comes into the possession or enjoyment of:

1. An estate in expectancy of any kind or character that is contingent or defeasible, transferred by an instrument taking effect on or after July 4, 1909; or

2. Property transferred pursuant to a power of appointment contained in an instrument taking effect on or after July 4, 1909;

(b) Property that is transferred pursuant to a power of appointment is deemed to pass from the estate of the donor or creator of the power to the transferee.

N.J. Admin. Code § 18:26-5.12

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