New Jersey Revised Statutes § 17:16i-14 - Effect Of Transfer By Right Of Survivorship

17:16I-14. Effect of transfer by right of survivorship
Any transfers resulting from the application of section 5 are effective by reason of the account contracts involved and this act, and are not to be considered as testamentary. The right of any surviving party to a joint account, or of any beneficiary, or of any P.O.D. payee, to the sums on deposit on the death of any party to a multiple-party account maintained in any financial institution, shall not be denied, abridged or in anywise affected because such right has not been created by a writing executed in accordance with the laws of this State prescribing the requirements to effect a valid testamentary disposition of property.

L.1979, c. 491, s. 14.

Section: Previous  17-16i-7  17-16i-8  17-16i-9  17-16i-10  17-16i-11  17-16i-12  17-16i-13  17-16i-14  17-16i-15  17-16i-16  17-16i-17  17-16j-1  17-16j-2  17-16j-3  17-16j-4  Next

Last modified: October 11, 2016