New Jersey § 3a:16-6

§ 3a:16-6.

Whenever it shall be made to appear, to the satisfaction of any court having jurisdiction

of the accounts of any fiduciary, on accounting proceedings or on special application

by the fiduciary or other interested party, after such notice as the court may direct,

that the fiduciary has abandoned any real property, by refraining from paying real

property taxes, assessments, water rents, mortgage principal or interest, or other

liens or encumbrances, or by refraining from making repairs or improvements, or otherwise,

after determination by the fiduciary in good faith and in the exercise of reasonable

discretion that such real property because of liens, encumbrances, absence or inadequacy

of revenue or other causes or reasons had such lack of value that it was not worth

protecting, and that it was advisable and for the best interests of those interested

in the estate or trust to abandon such real property, or that as the result of such

abandonment, the fiduciary has been divested of title to or right to possession of

such real property by foreclosure of mortgage or by the enforcement of any other lien

or encumbrance, or otherwise, a judgment or order may be made on such terms and conditions,

if any, as the court shall deem just, ratifying and approving the abandonment of such

real property and if the fiduciary still has title to such real property, authorizing

the fiduciary to convey all right, title and interest therein for a nominal consideration

or no consideration in order to avoid liability which might arise by reason of the

continued ownership thereof.