13:1B-13.9 - Approval of application; fixing of consideration; conveyance by deed of bargain and sale or quitclaim deed - New Jersey Statutes

13:1B-13.9.  Approval of application;  fixing of consideration; conveyance by deed of bargain and sale or quitclaim deed
    The council shall, subject to the provisions of applicable law, approve an application for lease, conveyance, license or permit, if after investigation and a review of the recommendations submitted to it pursuant to section 94, it is satisfied that the lease, conveyance, license or permit will be in the public interest.  In determining whether a lease, conveyance, license or permit  is in the public interest, the council shall consider the environmental impact  of the use proposed to be made of the property in question.  The council shall  further determine the fair market value of the property at the time of the  lease, conveyance, license or permit and shall fix the proper consideration to  be charged for the lease, conveyance, license or permit of the lands owned by  the State or quitclaim of any claim asserted by the State.  In determining such  consideration the council shall take into account the actions of a claimant  under color of title who in good faith made improvements or paid taxes, or  both, on the lands in question.  Upon receipt of the payment of the  consideration for a conveyance, the council and the appropriate State officers  in accordance with the riparian statutes, shall convey the premises by deed of  bargain and sale or quitclaim deed under the seal of the State.  The council  and the appropriate State officers shall require such terms and conditions in the conveyance instrument as it deems necessary and appropriate.

     L.1968, c. 404, s. 95.  Amended by L.1973, c. 335, s. 4, eff. Dec. 27, 1973.