40:37A-73 - Service of notice; payment - New Jersey Statutes

40:37A-73.  Service of notice;  payment
    Each authority shall cause notice of the filing of a declaration of taking of property as provided in this act and of the making of the deposit required by this act with respect thereto to be served upon each party to the action to fix the compensation to be paid who resides in the State, either personally or by leaving a copy thereof at his residence if known, and upon each such party who resides out of the State, by mailing a copy thereof to him at his residence  if known.  In the event that the residence of any such party or the name of  such party is unknown, such notice shall be published at least once in a  newspaper published or circulating in the county or counties in which the  property is located.  Such service, mailing or publication shall be made within  30 days after filing such declaration. Upon the application of any party in  interest and after notice to other parties in interest, including the  authority, the Superior Court may direct that the money deposited with the  Clerk of the Superior Court or any part thereof be paid forthwith to the person  or persons entitled thereto for or on account of the just compensation to be  awarded in said action, provided that each such person shall have filed with  the Clerk of the Superior Court a consent in writing that, in the event the  award in the said action shall be less than the amount deposited, the court,  after such notice as the court prescribes and hearing, may determine his  liability, if any, for the return of the difference or any part thereof and  enter judgment therefor. If the amount of the award as finally determined shall exceed the amount so deposited, the person or persons to whom the award is payable shall be entitled to recover from the authority the difference between the amount of the deposit and the amount of the award, with interest at  the rate of 6% per annum thereon from the date of making the deposit.  If the  amount of the award as so determined shall be less than the amount so deposited, the Clerk of the Superior Court shall return the difference between the amount of the award and the deposit to the authority unless the deposit or any part thereof shall have theretofore been distributed, in which event the court, on application of the authority and notice to all persons interested in the award and affording them an opportunity to be heard, shall enter judgment in favor of the authority for the difference against the party or parties liable for the return thereof.

     L.1960, c. 183, p. 749, s. 30, eff. Jan. 18, 1961.