New Jersey Statutes
§ 40:55D-127 — Right to bargain for equitable interest
New Jersey·Title 40 MUNICIPALITIES AND COUNTIES
Notwithstanding any other provision of this act or of any other applicable law, nothing in this act shall be construed to limit or foreclose the right of a sending zone transferor or a receiving zone transferee of a development transfer pursuant to this act to bargain, wholly or partially in lieu of a cash sale price, for an equitable interest in any development in which the transfer may be used. Any contract or conveyance of development potential in which the consideration for the transaction is, in whole or in part, an equitable interest remaining in the grantor, shall be a recordable instrument to be recorded consistent with the applicable provisions of Title 46 of the Revised Statutes. L.1989,c.86,s.17.
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Nearby Sections
15
§ 40:55D-1
Short title§ 40:55D-10
Hearings.§ 40:55D-10.1
Informal review§ 40:55D-10.4
Default approval§ 40:55D-100
Short title§ 40:55D-101
Legislative findings and declarations§ 40:55D-102
Definitions§ 40:55D-103
Manufactured homes on land with title in owner§ 40:55D-104
Prohibition of use by municipal agency of discriminatory development regulations to exclude or restrict§ 40:55D-106
Trailers; inapplicability of act§ 40:55D-107
Historic preservation commission§ 40:55D-109
Responsibilities of commission