2A:18-78 - Disposal of property, options - New Jersey Statutes

2A:18-78.  Disposal of property, options
7.Property that has been conclusively presumed to be abandoned may be disposed of in any of the following ways:

a.The landlord may sell the property at a public or private sale;

b.The landlord may destroy or otherwise dispose of the property if the landlord reasonably determines that the value of the property is so low that the cost of storage and conducting a public sale would probably exceed the amount that would be realized from the sale; or

c.The landlord may sell certain items and destroy or otherwise dispose of the remaining property, in accordance with subsections a. and b. of this section.

A public or private sale authorized by this section shall be conducted in accordance with the provisions of 12A:9-601 et seq. of the "Uniform Commercial Code".

L.1999, c.340, s.7; amended 2001, c.117, s.23.