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Terms Used In New Jersey Statutes 40:60-36.1

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Grantor: The person who establishes a trust and places property into it.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
In any municipality where lands have been conveyed to a municipality, and a valuable consideration has been paid therefor, with conditions, limitations and restrictions contained in such conveyance upon said lands to the effect that said lands shall forever thereafter be used solely for public uses of beach or park purposes and prohibiting the municipality from leasing or selling all or any part of such lands for private use, the governing body may at any time after five years from date of acquiring said lands, where no improvements upon, damages to or changes in said lands have been made, may cause to be put upon the ballots of any general election a question to determine whether or not the general public desire to retain said lands with said conditions, limitations and restrictions thereon.

If a majority of the votes cast at such election are in favor of retaining said lands with said conditions, limitations and restrictions thereon, the said lands shall be so retained; but, if a majority of the votes so cast shall be against so retaining said lands, the governing body of said municipality shall take one of the following courses:

(a) Adopt a resolution renouncing all public, right, title and interest of said municipality in said lands, after which said municipality may levy subsequent taxes and municipal liens against the same as in the case of other lands not owned by the municipality.

(b) Offer to convey all the right, title and interest of the municipality to the person who conveyed said lands to the municipality for the same consideration as the municipality paid. The word “person” as used in this paragraph and in the succeeding paragraph hereof shall be construed to include the heirs-at-law, next of kin, devisees, administrators, executors, successors and assigns of the individual or individuals who conveyed said lands to the municipality and where the grantor to the municipality was a corporation, the word “person” shall include such corporation, its successors and assigns.

(c) If the person who conveyed the lands to municipality refuses or neglects, for ninety days after tender of conveyance from municipality, to accept said conveyance and pay the said consideration price therefor, as described in the preceding paragraph hereof, the municipality may consider said conditions, limitations and restrictions waived and ineffectual and proceed, at any time thereafter, to make such use, sale, lease or rental of said lands as, in the opinion of its governing body, are for the best public interest.

L.1940, c. 156, p. 353, s. 1, eff. June 28, 1940.

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