N.J. Admin. Code § 18:26-5.8

Current through Register Vol. 56, No. 24, December 18, 2024

Section 18:26-5.8 - Transfers taking effect in possession or enjoyment at or after death

(a) Any transfer of property by deed, grant, bargain, sale, or gift, or in trust (except in the case of a bona fide sale for an adequate valuable consideration in money or money's worth) is subject to the New Jersey transfer inheritance tax where made by a decedent transfer or during the decedent's lifetime, under which the decedent has retained for life or for any period not ascertainable without reference to the decedent's death, or for any period which does not in fact end before the decedent's death:

1. The possession or enjoyment of the property so that possession or enjoyment of the property can be obtained only by surviving the transferor; or

2. The right to income from the property.

(b) The transfer is taxable if by any means whatsoever the transferor has in form transferred property but has deferred the actual possession, use, or enjoyment of the property until a time which can only be measured by reference to the transferor's death.

N.J. Admin. Code § 18:26-5.8

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