Where Do Insurance or Government Program Payments Appear on a Statement of Account in NJ?
Detailed Answer In New Jersey, a statement of account is an itemized record of charges and credits from a provider or vendor. It typically lists Charges, Adjustments, Payments, and the Balance Due. You will find insurance or government program payments in the Payments section. Providers often label this section as “Payments” or “Third-Party Payments.” These […]
Read article →How to Verify if the Decedent Had a Valid Will or Other Estate Planning Documents in New Jersey
Disclaimer This article is for educational purposes only and does not constitute legal advice. Always consult a qualified attorney for guidance on your specific situation. 1. Detailed Answer When a person dies in New Jersey, determining whether they left a valid will or other estate planning documents is crucial for settling their affairs. Below are […]
Read article →How can an interested party determine if surplus funds remain after a foreclosure sale in New Jersey?
Detailed Answer 1. Overview of Foreclosure Sales in New Jersey When a property is sold at a sheriff’s foreclosure sale, the sale proceeds first cover the mortgage debt, court costs, taxes and any junior liens. If the winning bid exceeds the total amount owed, the excess is known as “surplus funds.” These funds remain with […]
Read article →What rights does a life estate grant to a lifetime beneficiary and how is a remainder interest determined when a will designates a remainderman? (NJ)
Life Estate Rights and Remainder Interests Under New Jersey Law Detailed Answer In New Jersey, a life estate gives a lifetime beneficiary (the "life tenant") a present right to possess, use, and derive income from real estate for the duration of their life. The remainder interest belongs to a future beneficiary (the "remainderman") and becomes […]
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