Terms Used In New Jersey Statutes 40:60-25.6

  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
All leases for the purpose of providing areas for the public parking of vehicles, the acquisition of lands by gift, devise, condemnation or purchase, for such purpose, all expenditures incident thereto for the payment of rents or the cost of lighting, improvement, maintenance, policing or otherwise, and all budget appropriations therefor heretofore made, all municipal bonds heretofore issued, and all ordinances, resolutions, or other proceedings heretofore adopted or taken for any such purpose by any municipality are hereby ratified, confirmed and validated to the same extent as though the same had been made, issued and adopted pursuant to authorization by this act.

L.1942, c. 138, p. 429, s. 6.