New Jersey Statutes 40:37-205. Lands for parks; lease with option to purchase
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Terms Used In New Jersey Statutes 40:37-205
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
The commission may acquire by lease for a definite period, not exceeding ten years, lands for parks and open spaces for public resort and recreation, but all such leases shall contain an option to purchase the leased lands.