New Jersey · statute · N.J. Stat. tit. 46 · 806 active provisions
As used in this title, except where the context clearly indicates a contrary intent, the terms "county recording officer" and "office of the county recording officer" mean the register of deeds and mortgages and his office in counties having such an officer and office, and the county clerk and his office in the other c…
Nothing in this title contained shall in any way affect, abridge or abrogate any title to or rights or interests in any real estate or personal property lawfully given, acquired and existing at the time when the Revised Statutes take effect.
Nothing in this title contained shall be construed to make good, valid or effectual any fraud or forgery, made or used in or about any powers of agency, letters of attorney, deeds, writings or records, last wills or testaments, bargains and sales, or other conveyances of estates of inheritance, grounded thereupon.
Nothing in this title contained providing for or requiring the recording of any deed or instrument in full shall be construed to affect or impair the effect of any mortgage or the registry thereof which has been or shall be registered as provided by chapter 17 of this title (s. 46:17-1 et seq.).
A person to whom any legal or equitable power of appointment, whether coupled with an interest or not, is given, may, by deed, release, or covenant or contract not to exercise, the power.
Said person may release such power: (a) with respect either to the whole, or to any part, of the property subject thereto; (b) in such manner as to reduce the number of, or to limit, the persons or objects, or classes of persons or objects, to whom or for whose benefit an appointment otherwise might be made thereunder.
Said person may covenant or contract not to exercise such power: (a) with respect to a part only of the property subject thereto; (b) in favor of any persons or objects, or classes of persons or objects, to whom or for whose benefit an appointment otherwise might be made, other than a reduced or limited number of perso…
This act shall apply to powers of appointment created by instruments coming into operation either before or after this act takes effect; provided, that it shall not apply where such instrument expressly prohibits a release of, or covenant, or contract not to exercise, such power.
Such deed, covenant or contract, where the power has been or shall be created by: (a) a last will and testament, shall be acknowledged in the same manner as conveyances of land, and shall be recorded in the office of the surrogate of the county in which such last will and testament was admitted to probate, or in the of…
1. This act shall be known and may be cited as the "Revised Durable Power of Attorney Act."
2. Powers of Attorney; Durable Powers of Attorney; Disability Defined. a. A power of attorney is a written instrument by which an individual known as the principal authorizes another individual or individuals or a qualified bank within the meaning of P.L.1948, c.67, s.28 (C.17:9A-28) known as the attorney-in-fact to pe…
3. Durable Power of Attorney Not Affected By Lapse of Time; Disability or Incapacity. All acts done by an attorney-in-fact pursuant to a durable power of attorney during any period when the power of attorney is effective in accordance with its terms, including any period when the principal is under a disability, have t…
4. Relation of Attorney-in-Fact to Court-Appointed Fiduciary. a. If, following execution of a durable power of attorney, a court of the principal's domicile appoints a conservator, guardian of the estate, or other fiduciary charged with the management of all of the principal's property or all of the principal's propert…
5. Power of Attorney Not Revoked Until Notice. a. The death of a principal who has executed a written power of attorney, durable or otherwise, does not revoke or terminate the agency as to the attorney-in-fact or other person who, without actual knowledge of the death of the principal, acts in good faith under the powe…
6. Good Faith Reliance. a. Any third party may rely upon the authority granted in a durable power of attorney until the third party has received actual notice of the revocation of the power of attorney, the termination or suspension of the authority of the attorney-in-fact, or the death of the principal. b. A third par…
7. Multiple Attorneys-In-Fact. a. Unless the power of attorney expressly provides otherwise, all authority granted to multiple attorneys-in-fact may be exercised by the one or more who remain after the death, resignation or disability of one or more of the attorneys-in-fact. b. The power of attorney may provide that th…
8. Delegation by Attorney-in-Fact. If the power of attorney shall specifically provide, the attorney-in-fact, in the exercise of reasonable care, skill and caution, may delegate to other agents such one, more, or all of the specific powers which have been conferred on the attorney-in-fact by the power of attorney.
9. Formality. A power of attorney must be in writing, duly signed and acknowledged in the manner set forth in R.S.46:14-2.1.
10. Revocation. A power of attorney is revoked when the principal has caused all executed originals of the power of attorney to be physically destroyed; or when the principal has signed and caused to be acknowledged in the manner set forth in R.S.46:14-2.1 a written instrument of revocation; or when the principal has d…
11. Certified Copies and Photocopies. Any third party to whom the power of attorney is presented may retain and rely upon a photocopy of the original signed document, or may retain and rely upon a certified copy of the original.
12. Compensation of the Attorney-in-Fact. A principal shall have the power to direct whether an attorney-in-fact is to be compensated in a power of attorney or in a separate written agreement dealing with compensation. A principal may direct that an attorney-in-fact be compensated and may provide for the method by whic…
13. Fiduciary Status and Duty to Account. a. An attorney-in-fact has a fiduciary duty to the principal, and to the guardian of the property of the principal if the principal has been adjudicated an incapacitated person, to act within the powers delegated by the power of attorney and solely for the benefit of the princi…
1. A power of attorney shall not be construed to authorize the attorney-in-fact to gratuitously transfer property of the principal to the attorney-in-fact or to others except to the extent that the power of attorney expressly and specifically so authorizes. An authorization in a power of attorney to generally perform a…
14. The provisions of this act shall hereafter apply to any power of attorney made pursuant to the provisions of P.L.1991, c.95 (C.46:2B-10 et seq.) relating to banking transactions under a power of attorney. This act shall complement and not supersede the provisions of P.L.1991, c.95 (C.46:2B-10 et seq.).
1. As used in this act: "Account" means an agreement between a banking institution and its customer pursuant to which the banking institution accepts funds or property of the customer and agrees to repay or return the funds or property upon the terms and conditions specified in the agreement. The term "account" include…