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Current as of January 01, 2024 | Updated by Findlaw Staff
a. If the testator intended a specific devise of certain securities rather than the equivalent value thereof, the specific devisee is entitled only to:
(1) As much of the devised securities as is a part of the estate at time of the testator's death;
(2) Any additional or other securities of the same entity owned by the testator by reason of action initiated by the entity and attributable to the securities devised excluding any acquired by exercise of purchase options;
(3) Securities of another entity owned by the testator as a result of a merger, consolidation, reorganization or other similar action initiated by either entity and attributable to the specific devise; and
(4) Any additional securities of the entity owned by the testator as a result of a plan of reinvestment if it is a regulated investment company and attributable to the specific devise.
b. Distributions prior to death with respect to a specifically devised security not provided for in subsection a. are not part of the specific devise.
Cite this article: FindLaw.com - New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 2A-26 - last updated January 01, 2024 | https://codes.findlaw.com/nj/appendix-former-title-3a-administration-of-estates-decedents-and-others/nj-st-sect-3a-2a-26/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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