In Re the Estate of Houghton

The question in this ease is whether there has been a transfer subject to the transfer inheritance tax, N. J. S. A. 54:34-1 et seq., when a husband and wife, owners of realty as tenants by the entirety, enter into a contract to sell the land, and the husband dies before the contract is consummated. The Appellate Division held the contract did not terminate the tenancy by the entirety and the transfer was not taxable. We agree essentially for the reasons stated in its opinion. A tax is imposed when real property is “transferred by will or by the intestate laws of this State from a resident of…