2009 New Jersey Code
TITLE 2A - ADMINISTRATION OF CIVIL AND CRIMINAL JUSTICE
Section 2A:61
2A:61-19 - Distribution of proceeds of sales of or compensation for real estate paid into court

2A:61-19.  Distribution of proceeds of sales of or compensation for real estate paid into court
    Whenever any real estate shall be sold or taken upon compensation, pursuant  to any competent judicial authority, or any law of this state, and the proceeds  of such sale or the compensation for such taking, shall be paid into any court  of this state, pursuant to such authority or law, such court shall order and  direct such payment or payments, in gross, to be made out of such proceeds, as  compensation to such person or persons as shall be entitled to any vested,  certain and absolute estate or interest, less than the fee simple, of, in, and  to such real estate, or any part thereof, as such court shall deem a just and  reasonable satisfaction for such estate or interest, and as the person so  entitled shall consent, in writing, to accept in lieu thereof;  but in case any  such person shall fail to give such consent, before the making of the order for  the distribution of such proceeds or compensation, then such court shall  ascertain and determine what proportion of such proceeds or compensation will be just and reasonable to be reserved for the benefit of such person, and shall  order the same to be put out at interest on sufficient security of real estate, or invested in legal securities or to be paid into court, under the direction  and control of such court, for the benefit of such person.
 
L.1951 (1st SS), c.344.