New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 24-13

A claimant against an estate who has failed to present his claim in due form within the time required, may bring an action in his own name without leave of court on a refunding bond given by a legatee or distributee and recover such proportion of his claim as ought to be paid out of the legacy or distributive share for which the bond was given.

Recovery on a refunding bond shall in no case exceed the amount actually received by the legatee or distributee furnishing the same.