20:3-23 - Withdrawal of funds - New Jersey Statutes

20:3-23.  Withdrawal of funds
    Upon application of any condemnee, or any other party in interest, and on notice to all parties to the action, including the condemnor, the court may direct that the estimated compensation on deposit, or any part thereof, be paid  to the person or persons entitled thereto, on account of the compensation to  which they may be entitled in the action;  provided, that if the award or  judgment fixing such compensation be less than the amount paid pursuant hereto,  the person to whom such payment has been made shall repay the same, together  with interest at a rate to be fixed by the court from the date of payment to  such person, and the court, after hearing in a summary manner, may enter  judgment therefor;  and provided, further, that if the award or judgment fixing  such compensation be more than the amount deposited, condemnor shall pay the  excess to the condemnee entitled thereto, with interest at a rate to be fixed  by the court from the date of the deposit, and the court, after hearing in a  summary manner, may enter judgment therefor against the condemnor.  The court,  upon notice to all parties, shall enter appropriate orders distributing any  balances on deposit.

     L.1971, c. 361, s. 23.