Law for reference
a. The following property of a judgment debtor, who is either anatural person resident in the State of New Jersey or the estate of adecedent who was resident in the State of New Jersey, shall be exemptfrom a writ of execution pursuant to this chapter:
(1) property that federal or other State statute forbids taking tosatisfy a State judgment;
(2) wearing apparel of the judgment debtor other than furs andjewelry; and
(3) goods, cash, bank deposits and similar financial propertycollectible as cash whose aggregate value does not exceed $1,000.00or the amount determined pursuant to subsection b. of this section. Banks and financial institutions may assess a fee of no more than$25.00 per levy against the judgment debtor.
b. The exemptions provided in this section shall not apply if thejudgment being enforced:
(1) arises from the purchase of the same property against whichcollection is sought; or
(2) is for child support; or
(3) is for the collection of taxes or assessments.
2A:17B-7. Selection of exempt personal property.
a. In consultation with the collection officer, the judgment debtormay select any item or items of personal property whose aggregate value is not greater than the values allowed under paragraph (3) ofsubsection a. of N.J.S.2A:17B-6. The selected item or items shall beexempt from levy.
b. The collection officer shall prepare an inventory of the items ofpersonal property selected for exemption by the judgment debtor andshall include an impartial and honest evaluation of each iteminventoried. The value of an item shall be the price judged to be thatfor which the item would be sold at public sale. Copies of theinventory shall be given to the debtor and to creditor or their counsel,if represented.
c. Within 10 days after receipt of the inventory, either the debtoror the creditor may dispute the value of any item in the inventory bynotice to the other party by submitting a written statement under oathconcerning the value and applying to the court to make adetermination of the value of the items in dispute. The court mayreceive or require testimony or evidence, including expert appraisalsas necessary to make its determination.
d. If neither party disputes the values in the inventory, thejudgment debtor, on the basis of the inventory values, shall selectitems whose aggregate value is not greater than the values allowedunder paragraph (3) of subsection a. of N.J.S.2A:17B-6. These itemsshall be exempt from levy. If either party disputes the values in theinventory, the judgment debtor, on the basis of the values determinedby the court, shall select items whose aggregate value is not greaterthan the values allowed under paragraph (3) of subsection a. ofN.J.S.2A:17B-6. These items shall be exempt from levy.
(Source: 2A:17-20 through 2A:17-28)
2A:17B-8. Receipt of writ of execution.
The collection officer shall record on a writ of execution the dateand time it was received.