Exempts transfers of residential real property between family members from inheritance tax in New Jersey.
This bill amends the New Jersey transfer inheritance tax to exempt property transfers between certain family members who co-own residential real property. The exemption applies to transfers between family members such as spouses, civil union partners, domestic partners, children, legally adopted children, mutually-acknowledged children, grandchildren, great-grandchildren, parents, grandparents, stepchildren, brothers, sisters, cousins, nieces, nephews, aunts, uncles, sisters-in-law, and brothers-in-law.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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