New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 26 - TRANSFER INHERITANCE AND ESTATE TAX
Subchapter 5 - TRANSFERS SUBJECT TO TAX
Section 18:26-5.12 - Powers of appointment; estates in expectancy
Universal Citation: NJ Admin Code 18:26-5.12
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Transfers are subject to the New Jersey transfer inheritance tax, where, by transfer of a resident decedent of real or tangible personal property within this State or of intangible personal property wherever situated, or by transfer of a nonresident decedent of real or tangible personal property within this State, a transferee comes into the possession or enjoyment of:
1. An estate in expectancy of any kind or character that is contingent or defeasible, transferred by an instrument taking effect on or after July 4, 1909; or
2. Property transferred pursuant to a power of appointment contained in an instrument taking effect on or after July 4, 1909;
(b) Property that is transferred pursuant to a power of appointment is deemed to pass from the estate of the donor or creator of the power to the transferee.
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