32:2-12 - Deposit of assessed valuation with clerk of Superior Court; payment by clerk - New Jersey Statutes

32:2-12.  Deposit of assessed valuation with clerk of Superior Court; payment by clerk
    Upon taking actual possession of the real property or any interest therein,  the Port Authority shall deposit with the Clerk of the Superior Court a sum  equal to the assessed valuation of the real property or interest therein, which  sum shall be paid out by the clerk in accordance with the order or judgment of  the court.

    Should said sum be insufficient to permit such payment in full, the Port Authority shall, within twenty days after the entry of the judgment, pay to the  clerk such sum as may be necessary to provide for full payment.  Any surplus  left in the hands of the clerk after the judgment has been entered shall be  repaid to the Port Authority.

     Amended by L.1953, c. 31, p. 563, s. 6.