40:60-51.5 - Waiver, release or modification of covenants, conditions or limitations as to erection of buildings or use of land in conveyances - New Jersey Statutes

40:60-51.5.  Waiver, release or modification of covenants, conditions or limitations as to erection of buildings or use of land in conveyances    Any municipality is authorized and empowered, by resolution of the governing  body thereof, to waive, release or modify any covenants, conditions or  limitations as to the erection of buildings or any other use to be made of land  heretofore imposed by said municipality in sales and conveyances of land by  such municipality at public or private sale made prior to the effective date of  this act, but only after public hearing held before such governing body, of the  holding of which notice describing the lands in question and the covenants,  conditions or limitations to be waived, released or modified and, if to be  modified, describing the manner in which the same shall be modified, shall  first have been given by advertisement published once each week for two weeks  in a newspaper published in said municipality or, if no newspaper be published  therein, then in a newspaper circulating in such municipality; provided,  however, that the power herein granted shall not be exercised to impair any  vested or contractual rights of third parties.

     L.1953, c. 403, p. 2040, s. 1, eff. Sept. 16, 1953.