a. Lands acquired by the State shall be acquired by the commissioner in the name of the State. They may be acquired by purchase or otherwise on such terms and conditions as the commissioner shall determine, or by condemnation in the manner provided in the “Eminent Domain Act of 1971,” P.L.1971, c. 361 (C. 20:3-1 et seq.). This power of acquisition shall extend to lands held by any local unit.

b. At any time contemporaneous with or after the institution of an action and service of process, the condemnor may file in the action, a declaration of taking pursuant to section 17 of P.L.1971, c. 361 (C. 20:3-17) and simultaneously therewith shall, pursuant to section 18 of P.L.1971, c. 361 (C. 20:3-18) deposit the amount of the estimated compensation with the clerk of the Superior Court.

c. The condemnor shall have the right to the immediate and exclusive possession of the property upon complying with section 19 of P.L.1971, c. 361 (C. 20:3-19). Thereafter, upon application of any condemnee, or any other party in interest, and on notice to all parties to the action, and pursuant to section 23 of P.L.1971, c. 361 (C. 20:3-23), the court may direct that the estimated compensation on deposit, or any part thereof, be withdrawn.

L.1975, c. 155, s. 6, eff. July 15, 1975.