Legal Research Home > New Jersey Lawyer > Commerce and Navigation > New Jersey Commerce And Navigation Laws Section 12:3-16. Fixing of purchase price or rentals for lands below high-water mark or formerly under tidewater; lease or conveyance.

It shall be lawful for the board, together with the governor, to fix and determine within the limits prescribed by law, the price or purchase money or annual rental to be paid by any applicant for so much of lands below high-water mark, or lands formerly under tidewater belonging to this state, as may be described in any application therefor duly made according to law, and the board, with the approval of the governor, shall, in the name and under the great seal of the state, grant or lease said lands to such applicant accordingly, and all such conveyances or leases shall be prepared by the board or its agents at the cost and expense of the grantee or lessee therein and shall be subscribed by the governor and the board and attested by the secretary of state.

Last modified: October 21, 2006