New Jersey § 18a:20-7
Full text of New Jersey New Jersey Statutes § 18a:20-7, with citation guidance and answers to common questions.
§ 18a:20-7.
a. In the case of public sales the board may by resolution fix a minimum price with
or without the reservation of the right, upon the completion of said public sale,
to accept or reject the highest bid made thereat, a statement whereof shall be included
in the advertisement of sale of the lands and public notice thereof shall be given
at the time of sale, or it may by resolution provide without fixing a minimum price,
that upon the completion of the public sale, the highest bid made thereat shall be
subject to acceptance or rejection by the board, but the acceptance or rejection thereof
shall be made not later than the second regular meeting of the board following the
sale, and, if the board shall fail or refuse to accept or reject any such highest
bid, as aforesaid, the said bill shall be deemed to have been rejected. b. If no bid is received or if the bids which are received are rejected by the board,
the board may enter into negotiations with any interested party or parties for the
sale or other disposal of the property. The acceptance or rejection of the price arrived at through negotiations shall be
by recorded roll call majority vote of the full membership of the board at a regularly
scheduled meeting. The board may reject any bid if it determines it to be in the public interest to do
so, but shall afford the bidder a hearing upon his request before entering into negotiations
as provided in this subsection.
Frequently Asked Questions About New Jersey § 18a:20-7
What does New Jersey Statutes § 18a:20-7 cover?
Section 18a:20-7 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:20-7?
A common citation format is "New Jersey Statutes § 18a:20-7" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:20-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.